The compound interest on Rs. 1700 at 10% per annum for 2 years is: MCQ with Answer and Explanation
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Question #1
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What is the compound interest on Rs. 60000 for 1 year at 12% per annum, compounded half-yearly?
Correct Answer: Option D
Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?
Correct Answer: Option B
Explanation:
512 = 8³, so 3 × 3 = 9 years.
512 = 8³, so 3 × 3 = 9 years.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:
Correct Answer: Option B
Explanation:
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.
This question belongs to:
Maths
Compound Interest
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