The compound interest on Rs. 2700 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 2700 at 10% per annum for 2 years is:

A. Rs. 600

B. Rs. 612

C. Rs. 567

D. Rs. 594

Answer: Option C

Solution (By JKExamLibrary)

A = 2700 × 1.21 = 3267, CI = 3267 − 2700 = Rs. 567.

This question belongs to: Maths Compound Interest

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Question #1

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What is the compound interest on Rs. 80000 for 1 year at 10% per annum, compounded half-yearly?

A. Rs. 8600

B. Rs. 8200

C. Rs. 8000

D. Rs. 8400

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Correct Answer: Option B

Explanation:
Half-yearly rate = 10/2 = 5%. Time = 2 half-years. Amount = 80000 * (1 + 5/100)^2 = 80000 * 1.1225 = Rs. 88200. Compound Interest = 88200 - 80000 = Rs. 8200.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 22

B. Rs. 20

C. Rs. 18

D. Rs. 16

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Correct Answer: Option B

Explanation:
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

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Question #3

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The difference between CI and SI on Rs. 2500 for 2 years at 8% is:

A. Rs. 14

B. Rs. 16

C. Rs. 17

D. Rs. 15

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Correct Answer: Option B

Explanation:
D = 2500 × 0.0064 = Rs. 16.

This question belongs to: Maths Compound Interest

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