The compound interest on Rs. 10500 at 10% per annum for 2 years is: MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 2000 at 10% per annum for 1.5 years compounded half-yearly.
Correct Answer: Option B
Explanation:
Half-yearly rate 5%, n=3. A = 2000 × (1.05)³ = 2000 × 1.157625 = 2315.25, CI = 2315.25 − 2000 = Rs. 315.25.
Half-yearly rate 5%, n=3. A = 2000 × (1.05)³ = 2000 × 1.157625 = 2315.25, CI = 2315.25 − 2000 = Rs. 315.25.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money at compound interest becomes 6 times in 3 years. In how many years will it become 36 times?
Correct Answer: Option A
Explanation:
36 = 6², so 3 × 2 = 6 years.
36 = 6², so 3 × 2 = 6 years.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 12500 at 8% per annum for 1 year compounded half-yearly is:
Correct Answer: Option C
Explanation:
Half-yearly rate = 4%, n=2. A = 12500 × (1.04)² = 12500 × 1.0816 = 13520, CI = 13520 − 12500 = Rs. 1020.
Half-yearly rate = 4%, n=2. A = 12500 × (1.04)² = 12500 × 1.0816 = 13520, CI = 13520 − 12500 = Rs. 1020.
This question belongs to:
Maths
Compound Interest
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