What is the principal if the compound interest on it for 2 years at 10% is Rs. 1050? MCQ with Answer and Explanation
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Question #1
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What sum will amount to Rs. 2315.25 in 3 years at 5% compound interest?
Correct Answer: Option C
Explanation:
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between CI and SI on Rs. 9800 for 2 years at 10% is:
Correct Answer: Option C
Explanation:
D = 9800 × 0.01 = Rs. 98.
D = 9800 × 0.01 = Rs. 98.
This question belongs to:
Maths
Compound Interest
Question #3
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What is the compound interest on Rs. 64000 for 1 year at 5% per annum, compounded half-yearly?
Correct Answer: Option B
Explanation:
Half-yearly rate = 5/2 = 2.5%. Time = 2 half-years. Amount = 64000 * (1 + 2.5/100)^2 = 64000 * (41/40)^2 = 64000 * (1681 / 1600) = 40 * 1681 = Rs. 67240. Compound Interest = 67240 - 64000 = Rs. 3240.
Half-yearly rate = 5/2 = 2.5%. Time = 2 half-years. Amount = 64000 * (1 + 2.5/100)^2 = 64000 * (41/40)^2 = 64000 * (1681 / 1600) = 40 * 1681 = Rs. 67240. Compound Interest = 67240 - 64000 = Rs. 3240.
This question belongs to:
Maths
Compound Interest
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