The compound interest on Rs. 4600 at 10% per annum for 2 years is: MCQ with Answer and Explanation

The compound interest on Rs. 4600 at 10% per annum for 2 years is:

A. Rs. 966

B. Rs. 1012

C. Rs. 1100

D. Rs. 1058

Answer: Option A

A = 4600 × 1.21 = 5566, CI = 5566 − 4600 = Rs. 966.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on Rs. 8000 at 10% per annum for 1 year compounded half-yearly is:

A. Rs. 820

B. Rs. 860

C. Rs. 800

D. Rs. 840

Correct Answer: Option A

Explanation:
Half-yearly rate 5%, n=2. A = 8000 × (1.05)² = 8000 × 1.1025 = 8820, CI = 8820 − 8000 = Rs. 820.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money invested at compound interest doubles itself in 14 years. In how many years will it become 4 times of itself?

A. 35 years

B. 42 years

C. 28 years

D. 21 years

Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 14 years. It will become 4 (2^2) times in 2 * 14 = 28 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money placed at compound interest becomes double of itself in 8 years. In how many years will it become 16 times of itself?

A. 48 years

B. 24 years

C. 32 years

D. 40 years

Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 8 years. It will become 16 (2^4) times in 4 * 8 = 32 years.

This question belongs to: Maths Compound Interest