The simple interest on a sum for 2 years at 10% is Rs. 800. 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. 800. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 800

B. Rs. 860

C. Rs. 820

D. Rs. 840

Answer: Option D

P = 80000/(10×2) = 4000. CI = 4000[(1.1)² − 1] = 4000 × 0.21 = Rs. 840.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

The compound interest on Rs. 8300 at 10% per annum for 2 years is:

A. Rs. 1909

B. Rs. 1743

C. Rs. 1826

D. Rs. 1660

Correct Answer: Option B

Explanation:
A = 8300 × 1.21 = 10043, CI = 10043 − 8300 = Rs. 1743.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 9600 for 2 years at 5% is:

A. Rs. 22

B. Rs. 24

C. Rs. 20

D. Rs. 26

Correct Answer: Option B

Explanation:
D = 9600 × 0.0025 = Rs. 24.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent compound interest will Rs. 6400 amount to Rs. 7744 in 2 years?

A. 8%

B. 12%

C. 9%

D. 10%

Correct Answer: Option D

Explanation:
6400(1+r)² = 7744 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest