The compound interest on Rs. 4300 at 10% 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 a sum for 2 years at 8% is Rs. 665.60. The sum is:
Correct Answer: Option B
Explanation:
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.
This question belongs to:
Maths
Compound Interest
Question #2
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The compound interest on Rs. 6000 for 2 years at 5% per annum is:
Correct Answer: Option C
Explanation:
A = 6000 × (1.05)² = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.
A = 6000 × (1.05)² = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:
Correct Answer: Option D
Explanation:
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.
This question belongs to:
Maths
Compound Interest
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