The compound interest on Rs. 3500 at 8% per annum for 2 years is: MCQ with Answer and Explanation
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Question #1
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The compound interest on Rs. 500 for 2 years at 4% per annum is:
Correct Answer: Option C
Explanation:
A = 500 × (1.04)² = 500 × 1.0816 = 540.80, CI = 540.80 − 500 = Rs. 40.80.
A = 500 × (1.04)² = 500 × 1.0816 = 540.80, CI = 540.80 − 500 = Rs. 40.80.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money at compound interest becomes 9 times in 4 years. In how many years will it become 81 times?
Correct Answer: Option A
Explanation:
81 = 9², so 4 × 2 = 8 years.
81 = 9², so 4 × 2 = 8 years.
This question belongs to:
Maths
Compound Interest
Question #3
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Find the compound interest on Rs. 10000 for 2 years at 4% per annum, the interest being compounded half-yearly.
Correct Answer: Option C
Explanation:
Half-yearly rate = 4/2 = 2%. Time = 2 years = 4 half-years. Amount = 10000 * (1 + 2/100)^4 = 10000 * (1.02)^4 = 10000 * 1.082432 = Rs. 10824.32. Compound Interest = 10824.32 - 10000 = Rs. 824.32.
Half-yearly rate = 4/2 = 2%. Time = 2 years = 4 half-years. Amount = 10000 * (1 + 2/100)^4 = 10000 * (1.02)^4 = 10000 * 1.082432 = Rs. 10824.32. Compound Interest = 10824.32 - 10000 = Rs. 824.32.
This question belongs to:
Maths
Compound Interest
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