The difference between CI and SI on Rs. 2300 for 2 years at 10% is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
What is the compound interest on Rs. 20000 for 2 years if the rate of interest is 5% for the first year and 10% for the second year?
Correct Answer: Option A
Explanation:
Amount = 20000 * (1 + 5/100) * (1 + 10/100) = 20000 * 1.05 * 1.10 = 20000 * 1.155 = Rs. 22100. Compound Interest = 22100 - 20000 = Rs. 2100.
Amount = 20000 * (1 + 5/100) * (1 + 10/100) = 20000 * 1.05 * 1.10 = 20000 * 1.155 = Rs. 22100. Compound Interest = 22100 - 20000 = Rs. 2100.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
The compound interest on a sum for 2 years at 5% is Rs. 205. Find the sum.
Correct Answer: Option A
Explanation:
CI = P[(1.05)² − 1] = P × 0.1025 = 205 ⇒ P = 2000.
CI = P[(1.05)² − 1] = P × 0.1025 = 205 ⇒ P = 2000.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
At what rate per annum compound interest will Rs. 1000 become Rs. 1102.50 in 2 years?
Correct Answer: Option A
Explanation:
1000(1+r)² = 1102.50 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.
1000(1+r)² = 1102.50 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!