The simple interest on a sum for 2 years at 8% is Rs. 320. The compound interest on the same sum for 2 years at 8% is: MCQ with Answer and Explanation

The simple interest on a sum for 2 years at 8% is Rs. 320. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 358.40

B. Rs. 345.60

C. Rs. 371.20

D. Rs. 332.80

Answer: Option D

P = 32000/(8×2) = 2000. CI = 2000 × 0.1664 = 332.80.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

What sum will amount to Rs. 11576.25 in 2 years at 5% per annum compound interest?

A. Rs. 10500

B. Rs. 10250

C. Rs. 10750

D. Rs. 10000

Correct Answer: Option A

Explanation:
P = 11576.25 / 1.1025 = 10500.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The population of a town increases at 10% per annum. If the present population is 20000, what will it be after 2 years?

A. 24600

B. 24200

C. 24000

D. 24400

Correct Answer: Option B

Explanation:
Population = 20000 × (1.1)² = 20000 × 1.21 = 24200.

This question belongs to: Maths Compound Interest

Question #3 Report Error

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

Correct Answer: Option C

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

This question belongs to: Maths Compound Interest