The compound interest on Rs. 6000 for 2 years at 5% per annum 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 simple interest and compound interest on a certain sum of money for 3 years at 20% per annum is Rs. 384. Find the sum.
Correct Answer: Option C
Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 384 = P * (20/100)^2 * (3 + 20/100) => 384 = P * (1/25) * (3.2) => 384 = P * 0.128 => P = 384 / 0.128 = Rs. 3000.
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 384 = P * (20/100)^2 * (3 + 20/100) => 384 = P * (1/25) * (3.2) => 384 = P * 0.128 => P = 384 / 0.128 = Rs. 3000.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
At what rate percent per annum will Rs. 30000 amount to Rs. 36300 in 2 years, compound interest compounded annually?
Correct Answer: Option C
Explanation:
Amount/Principal = 36300 / 30000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
Amount/Principal = 36300 / 30000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
The difference between CI and SI on Rs. 1100 for 2 years at 10% is:
Correct Answer: Option D
Explanation:
D = 1100 × 0.01 = Rs. 11.
D = 1100 × 0.01 = Rs. 11.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!