The population of a small community grows by 10% in the first year and decreases by 10% in the second year. If the population at the end of 2 years is 39600, find the original population. MCQ with Answer and Explanation
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Question #1
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What is the compound interest on Rs. 40000 for 1 year at 10% per annum, compounded quarterly?
Correct Answer: Option C
Explanation:
Quarterly rate = 10/4 = 2.5%. Time = 4 quarters. Amount = 40000 * (1 + 2.5/100)^4 = 40000 * (1.025)^4 = 40000 * 1.10381289 = Rs. 44152.51. Compound Interest = 44152.51 - 40000 = Rs. 4152.51.
Quarterly rate = 10/4 = 2.5%. Time = 4 quarters. Amount = 40000 * (1 + 2.5/100)^4 = 40000 * (1.025)^4 = 40000 * 1.10381289 = Rs. 44152.51. Compound Interest = 44152.51 - 40000 = Rs. 4152.51.
This question belongs to:
Maths
Compound Interest
Question #2
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At what rate percent per annum will Rs. 20000 amount to Rs. 24200 in 2 years, compound interest compounded annually?
Correct Answer: Option D
Explanation:
Amount/Principal = 24200 / 20000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
Amount/Principal = 24200 / 20000 = 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
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The difference between CI and SI on Rs. 4200 for 2 years at 5% is:
Correct Answer: Option A
Explanation:
D = 4200 × 0.0025 = Rs. 10.50.
D = 4200 × 0.0025 = Rs. 10.50.
This question belongs to:
Maths
Compound Interest
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