The compound interest on Rs. 5400 at 10% per annum for 2 years is: MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 1500 at 10% per annum for 2 years.
Correct Answer: Option C
Explanation:
A = 1500 × (1.1)² = 1500 × 1.21 = 1815, CI = 1815 − 1500 = Rs. 315.
A = 1500 × (1.1)² = 1500 × 1.21 = 1815, CI = 1815 − 1500 = Rs. 315.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. Find the rate of interest per annum.
Correct Answer: Option C
Explanation:
Interest for the 3rd year = 4913 - 4624 = Rs. 289. Rate of interest = (289 / 4624) * 100 = 0.0625 * 100 = 6.25%.
Interest for the 3rd year = 4913 - 4624 = Rs. 289. Rate of interest = (289 / 4624) * 100 = 0.0625 * 100 = 6.25%.
This question belongs to:
Maths
Compound Interest
Question #3
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What sum will amount to Rs. 2420 in 2 years at 10% per annum compound interest?
Correct Answer: Option C
Explanation:
P = 2420 / (1.1)² = 2420 / 1.21 = 2000.
P = 2420 / (1.1)² = 2420 / 1.21 = 2000.
This question belongs to:
Maths
Compound Interest
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