What sum will amount to Rs. 10816 in 2 years at 4% compound interest? MCQ with Answer and Explanation
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Question #1
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What is the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded half-yearly?
Correct Answer: Option D
Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 10000 * (1 + 6/100)^2 = 10000 * 1.1236 = Rs. 11236. Compound Interest = 11236 - 10000 = Rs. 1236.
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 10000 * (1 + 6/100)^2 = 10000 * 1.1236 = Rs. 11236. Compound Interest = 11236 - 10000 = Rs. 1236.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money at compound interest becomes 3 times in 6 years. In how many years will it become 27 times?
Correct Answer: Option B
Explanation:
3³ = 27, so 6 × 3 = 18 years.
3³ = 27, so 6 × 3 = 18 years.
This question belongs to:
Maths
Compound Interest
Question #3
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A certain sum amounts to Rs. 2205 in 2 years at 5% compound interest. The sum is:
Correct Answer: Option C
Explanation:
P = 2205 / (1.05)² = 2205 / 1.1025 = 2000.
P = 2205 / (1.05)² = 2205 / 1.1025 = 2000.
This question belongs to:
Maths
Compound Interest
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