The compound interest on Rs. 18000 at 8% per annum for 2 years is: MCQ with Answer and Explanation

The compound interest on Rs. 18000 at 8% per annum for 2 years is:

A. Rs. 2952

B. Rs. 2880

C. Rs. 3024

D. Rs. 2995.20

Answer: Option D

A = 18000 × 1.1664 = 20995.20, CI = 20995.20 − 18000 = Rs. 2995.20.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

A sum of money amounts to Rs. 12960 in 2 years and Rs. 15552 in 3 years at compound interest. Find the sum.

A. Rs. 9000

B. Rs. 8000

C. Rs. 9500

D. Rs. 8500

Correct Answer: Option A

Explanation:
Rate = (15552/12960 − 1) × 100 = 20%. P = 12960 / 1.44 = 9000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

What sum will amount to Rs. 13310 in 3 years at 10% per annum compound interest?

A. Rs. 10500

B. Rs. 10000

C. Rs. 9000

D. Rs. 9500

Correct Answer: Option B

Explanation:
P = 13310 / (1.1)³ = 13310 / 1.331 = 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent compound interest will Rs. 10000 amount to Rs. 12100 in 2 years?

A. 15%

B. 12%

C. 8%

D. 10%

Correct Answer: Option D

Explanation:
10000(1+r)² = 12100 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest