The simple interest on a sum for 2 years at 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is: MCQ with Answer and Explanation

The simple interest on a sum for 2 years at 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 1025

B. Rs. 1100

C. Rs. 1050

D. Rs. 1000

Answer: Option C

P = 100000/(10×2) = 5000. CI = 5000 × 0.21 = 1050.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money at compound interest amounts to Rs. 14520 in 2 years and to Rs. 15972 in 3 years. Find the sum.

A. Rs. 10000

B. Rs. 14000

C. Rs. 12000

D. Rs. 13000

Correct Answer: Option C

Explanation:
Rate = (15972/14520 − 1) × 100 = 10%. P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 5900 at 10% per annum for 2 years is:

A. Rs. 1180

B. Rs. 1298

C. Rs. 1239

D. Rs. 1357

Correct Answer: Option C

Explanation:
A = 5900 × 1.21 = 7139, CI = 7139 − 5900 = Rs. 1239.

This question belongs to: Maths Compound Interest

Question #3 Report Error

In how many years will Rs. 2500 amount to Rs. 3025 at 10% per annum compound interest?

A. 3 years

B. 2.5 years

C. 1.5 years

D. 2 years

Correct Answer: Option D

Explanation:
2500(1.1)^t = 3025 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest