The compound interest on Rs. 4400 at 10% per annum for 2 years is: MCQ with Answer and Explanation

The compound interest on Rs. 4400 at 10% per annum for 2 years is:

A. Rs. 1012

B. Rs. 880

C. Rs. 924

D. Rs. 968

Answer: Option C

A = 4400 × 1.21 = 5324, CI = 5324 − 4400 = Rs. 924.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate percent per annum will Rs. 5000 amount to Rs. 5618 in 2 years at compound interest?

A. 5%

B. 6%

C. 8%

D. 7%

Correct Answer: Option B

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

At what rate percent compound interest will Rs. 20000 amount to Rs. 22050 in 2 years?

A. 4%

B. 7%

C. 6%

D. 5%

Correct Answer: Option D

Explanation:
20000(1+r)² = 22050 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money doubles in 6 years at compound interest. In how many years will it become 8 times?

A. 12 years

B. 14 years

C. 18 years

D. 16 years

Correct Answer: Option C

Explanation:
2³ = 8, so 6 × 3 = 18 years.

This question belongs to: Maths Compound Interest