The difference between CI and SI on Rs. 7700 for 2 years at 10% is: MCQ with Answer and Explanation
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Question #1
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At what rate percent per annum will Rs. 80000 amount to Rs. 96800 in 2 years, compound interest compounded annually?
Correct Answer: Option D
Explanation:
Amount/Principal = 96800 / 80000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
Amount/Principal = 96800 / 80000 = 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 #2
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What is the compound interest on Rs. 20000 for 1 year at 16% per annum, compounded half-yearly?
Correct Answer: Option C
Explanation:
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 20000 * (1 + 8/100)^2 = 20000 * 1.1664 = Rs. 23328. Compound Interest = 23328 - 20000 = Rs. 3328.
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 20000 * (1 + 8/100)^2 = 20000 * 1.1664 = Rs. 23328. Compound Interest = 23328 - 20000 = Rs. 3328.
This question belongs to:
Maths
Compound Interest
Question #3
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A sum of money becomes 1.44 times in 2 years at compound interest. The rate of interest is:
Correct Answer: Option D
Explanation:
(1+r)² = 1.44 ⇒ 1+r = 1.2 ⇒ r = 20%.
(1+r)² = 1.44 ⇒ 1+r = 1.2 ⇒ r = 20%.
This question belongs to:
Maths
Compound Interest
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