The simple interest on a sum for 3 years at 12% is Rs. 432. The compound interest on the same sum for 2 years at 12% is: MCQ with Answer and Explanation

The simple interest on a sum for 3 years at 12% is Rs. 432. The compound interest on the same sum for 2 years at 12% is:

A. Rs. 303.36

B. Rs. 300

C. Rs. 310

D. Rs. 305.28

Answer: Option D

P = 43200/(12×3) = 43200/36 = 1200. CI = 1200[(1.12)² − 1] = 1200 × 0.2544 = 305.28.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money at compound interest becomes 5 times in 4 years. In how many years will it become 25 times?

A. 12 years

B. 6 years

C. 8 years

D. 10 years

Correct Answer: Option C

Explanation:
25 = 5², so 4 × 2 = 8 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the compound interest on Rs. 7200 at 5% per annum for 2 years.

A. Rs. 738

B. Rs. 744

C. Rs. 740

D. Rs. 742

Correct Answer: Option A

Explanation:
A = 7200 × (1.05)² = 7200 × 1.1025 = 7938, CI = 7938 − 7200 = Rs. 738.

This question belongs to: Maths Compound Interest

Question #3 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. 24400

B. 24600

C. 24000

D. 24200

Correct Answer: Option D

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

This question belongs to: Maths Compound Interest