The compound interest on Rs. 11000 at 10% per annum for 2 years is: MCQ with Answer and Explanation

The compound interest on Rs. 11000 at 10% per annum for 2 years is:

A. Rs. 2200

B. Rs. 2310

C. Rs. 2420

D. Rs. 2530

Answer: Option B

A = 11000 × 1.21 = 13310, CI = 13310 − 11000 = Rs. 2310.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate percent per annum will Rs. 40000 amount to Rs. 48400 in 2 years, compound interest compounded annually?

A. 14%

B. 12%

C. 10%

D. 8%

Correct Answer: Option C

Explanation:
Amount/Principal = 48400 / 40000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum becomes Rs. 10816 in 2 years at 4% compound interest. Find the sum.

A. Rs. 10500

B. Rs. 11000

C. Rs. 10000

D. Rs. 9500

Correct Answer: Option C

Explanation:
P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 15000 for 2 years at 10% is:

A. Rs. 140

B. Rs. 150

C. Rs. 130

D. Rs. 120

Correct Answer: Option B

Explanation:
D = 15000 × 0.01 = Rs. 150.

This question belongs to: Maths Compound Interest