The compound interest on Rs. 14000 at 10% per annum for 2 years is: MCQ with Answer and Explanation
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Question #1
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What sum will amount to Rs. 10584 in 2 years at 5% compound interest?
Correct Answer: Option B
Explanation:
P = 10584 / 1.1025 = 9600.
P = 10584 / 1.1025 = 9600.
This question belongs to:
Maths
Compound Interest
Question #2
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At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years?
Correct Answer: Option B
Explanation:
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.
This question belongs to:
Maths
Compound Interest
Question #3
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What is the compound interest on Rs. 40000 for 1 year at 20% per annum, compounded half-yearly?
Correct Answer: Option B
Explanation:
Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 40000 * (1 + 10/100)^2 = 40000 * 1.21 = Rs. 48400. Compound Interest = 48400 - 40000 = Rs. 8400.
Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 40000 * (1 + 10/100)^2 = 40000 * 1.21 = Rs. 48400. Compound Interest = 48400 - 40000 = Rs. 8400.
This question belongs to:
Maths
Compound Interest
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