The compound interest on Rs. 5500 at 10% per annum for 2 years is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
The difference between CI and SI on Rs. 4200 for 2 years at 5% is:
Correct Answer: Option A
Explanation:
D = 4200 × 0.0025 = Rs. 10.50.
D = 4200 × 0.0025 = Rs. 10.50.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum.
Correct Answer: Option C
Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
The compound interest on a certain sum for 2 years at 10% per annum is Rs. 441. Find the principal sum.
Correct Answer: Option B
Explanation:
Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 441 => P = 441 / 0.21 = Rs. 2100.
Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 441 => P = 441 / 0.21 = Rs. 2100.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!