The difference between CI and SI on Rs. 10000 for 2 years at 10% per annum is: MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 50000 for 1 year at 8% per annum, compounded quarterly.
Correct Answer: Option B
Explanation:
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 50000 * (1 + 2/100)^4 = 50000 * (1.02)^4 = 50000 * 1.08243216 = Rs. 54121.61. Compound Interest = 54121.61 - 50000 = Rs. 4121.61.
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 50000 * (1 + 2/100)^4 = 50000 * (1.02)^4 = 50000 * 1.08243216 = Rs. 54121.61. Compound Interest = 54121.61 - 50000 = Rs. 4121.61.
This question belongs to:
Maths
Compound Interest
Question #2
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At what rate percent per annum will Rs. 10000 amount to Rs. 11664 in 2 years, compound interest compounded annually?
Correct Answer: Option C
Explanation:
Amount/Principal = 11664 / 10000. Taking square root: sqrt(11664/10000) = 108 / 100 = 1.08. Therefore, 1 + R/100 = 1.08 => R = 8%.
Amount/Principal = 11664 / 10000. Taking square root: sqrt(11664/10000) = 108 / 100 = 1.08. Therefore, 1 + R/100 = 1.08 => R = 8%.
This question belongs to:
Maths
Compound Interest
Question #3
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A sum of money becomes 2 times in 4 years at compound interest. In how many years will it become 8 times?
Correct Answer: Option D
Explanation:
2 times in 4 years; 8 = 2³, so 4 × 3 = 12 years.
2 times in 4 years; 8 = 2³, so 4 × 3 = 12 years.
This question belongs to:
Maths
Compound Interest
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