The compound interest on Rs. 5900 at 10% per annum for 2 years is: MCQ with Answer and Explanation

The compound interest on Rs. 5900 at 10% per annum for 2 years is:

A. Rs. 1357

B. Rs. 1298

C. Rs. 1180

D. Rs. 1239

Answer: Option D

A = 5900 × 1.21 = 7139, CI = 7139 − 5900 = Rs. 1239.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate of compound interest per annum will a sum of Rs. 800 become Rs. 882 in 2 years?

A. 8%

B. 4%

C. 6%

D. 5%

Correct Answer: Option D

Explanation:
800 × (1 + r)² = 882 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

In how many years will a sum of Rs. 5000 become Rs. 6655 at 10% per annum compound interest?

A. 2 years

B. 4 years

C. 3 years

D. 5 years

Correct Answer: Option C

Explanation:
5000 × (1.1)^n = 6655 ⇒ (1.1)^n = 1.331 = (1.1)³ ⇒ n = 3 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 9600 for 2 years at 5% is:

A. Rs. 24

B. Rs. 22

C. Rs. 26

D. Rs. 20

Correct Answer: Option A

Explanation:
D = 9600 × 0.0025 = Rs. 24.

This question belongs to: Maths Compound Interest