The compound interest on Rs. 3000 for 3 years at 5% per annum is: MCQ with Answer and Explanation

Question Report Error

The compound interest on Rs. 3000 for 3 years at 5% per annum is:

A. Rs. 473.00

B. Rs. 475.00

C. Rs. 472.875

D. Rs. 472.50

Answer: Option C

Solution (By JKExamLibrary)

A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

Find the compound interest on Rs. 75000 at 10% per annum for 2 years.

A. Rs. 18000

B. Rs. 17250

C. Rs. 16500

D. Rs. 15750

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Correct Answer: Option D

Explanation:
A = 75000 × (1.1)² = 75000 × 1.21 = 90750, CI = 90750 − 75000 = Rs. 15750.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money amounts to Rs. 10404 in 2 years at 2% compound interest. Find the sum.

A. Rs. 9900

B. Rs. 9800

C. Rs. 10000

D. Rs. 10100

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Correct Answer: Option C

Explanation:
P = 10404 / (1.02)² = 10404 / 1.0404 = 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest becomes 9 times in 2 years. In how many years will it become 81 times?

A. 6 years

B. 3 years

C. 5 years

D. 4 years

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Correct Answer: Option D

Explanation:
81 = 9², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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