The compound interest on Rs. 1900 at 10% per annum for 2 years is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
The compound interest on Rs. 3000 at 8% per annum for 1 year compounded half-yearly is:
Correct Answer: Option B
Explanation:
Half-yearly rate 4%, n=2. A = 3000 × (1.04)² = 3000 × 1.0816 = 3244.80, CI = 3244.80 − 3000 = Rs. 244.80.
Half-yearly rate 4%, n=2. A = 3000 × (1.04)² = 3000 × 1.0816 = 3244.80, CI = 3244.80 − 3000 = Rs. 244.80.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
Find the compound interest on Rs. 40000 for 1 year at 12% per annum, compounded quarterly.
Correct Answer: Option B
Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 40000 * (1 + 3/100)^4 = 40000 * (1.03)^4 = 40000 * 1.12550881 = Rs. 45020.35. Compound Interest = 45020.35 - 40000 = Rs. 5020.35. Correct option matches B layout metrics.
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 40000 * (1 + 3/100)^4 = 40000 * (1.03)^4 = 40000 * 1.12550881 = Rs. 45020.35. Compound Interest = 45020.35 - 40000 = Rs. 5020.35. Correct option matches B layout metrics.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
A sum of money at compound interest quadruples in 2 years. In how many years will it become 16 times?
Correct Answer: Option B
Explanation:
16 = 4², so 2 × 2 = 4 years.
16 = 4², so 2 × 2 = 4 years.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!