The compound interest on Rs. 6000 at 5% per annum for 2 years is: MCQ with Answer and Explanation

Question Report Error

The compound interest on Rs. 6000 at 5% per annum for 2 years is:

A. Rs. 600

B. Rs. 645

C. Rs. 630

D. Rs. 615

Answer: Option D

Solution (By JKExamLibrary)

A = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

In how many years will Rs. 1200 amount to Rs. 1389.15 at 5% compound interest?

A. 3 years

B. 2 years

C. 3.5 years

D. 2.5 years

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
1200(1.05)^t = 1389.15 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 2600 at 10% per annum for 2 years is:

A. Rs. 546

B. Rs. 520

C. Rs. 572

D. Rs. 598

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Correct Answer: Option A

Explanation:
A = 2600 × 1.21 = 3146, CI = 3146 − 2600 = Rs. 546.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 1500 at 10% per annum for 2 years.

A. Rs. 300

B. Rs. 330

C. Rs. 315

D. Rs. 310

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
A = 1500 × (1.1)² = 1500 × 1.21 = 1815, CI = 1815 − 1500 = Rs. 315.

This question belongs to: Maths Compound Interest

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