The compound interest on Rs. 4900 at 10% per annum for 2 years is: MCQ with Answer and Explanation

Question
The compound interest on Rs. 4900 at 10% per annum for 2 years is:
A. Rs. 1127
B. Rs. 980
C. Rs. 1029
D. Rs. 1078
Answer: Option C
Solution (By JKExamLibrary)
A = 4900 × 1.21 = 5929, CI = 5929 − 4900 = Rs. 1029.
This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1
The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is:
A. Rs. 35
B. Rs. 30
C. Rs. 20
D. Rs. 25
Discuss

Correct Answer: Option D

Explanation:
6.25% = 1/16. D = P × (R/100)² = 6400 × (1/16)² = 6400 × 1/256 = Rs. 25.
This question belongs to: Maths Compound Interest
Question #2
Find the compound interest on Rs. 10800 at 10% per annum for 2 years.
A. Rs. 2160
B. Rs. 2376
C. Rs. 2268
D. Rs. 2484
Discuss

Correct Answer: Option C

Explanation:
A = 10800 × 1.21 = 13068, CI = 13068 − 10800 = Rs. 2268.
This question belongs to: Maths Compound Interest
Question #3
A sum of money amounts to Rs. 10584 in 2 years and Rs. 11113.20 in 3 years at compound interest. Find the sum.
A. Rs. 9600
B. Rs. 9200
C. Rs. 9000
D. Rs. 9400
Discuss

Correct Answer: Option A

Explanation:
Rate = (11113.20/10584 − 1) × 100 = 5%. P = 10584 / 1.1025 = 9600.
This question belongs to: Maths Compound Interest
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