What sum will amount to Rs. 1331 in 3 years at 10% compound interest? MCQ with Answer and Explanation
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Question #1
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The compound interest on Rs. 1900 at 10% per annum for 2 years is:
Correct Answer: Option B
Explanation:
A = 1900 × 1.21 = 2299, CI = 2299 − 1900 = Rs. 399.
A = 1900 × 1.21 = 2299, CI = 2299 − 1900 = Rs. 399.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the compound interest on Rs. 40000 for 1 year at 8% per annum, compounded half-yearly?
Correct Answer: Option A
Explanation:
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 40000 * (1 + 4/100)^2 = 40000 * 1.0816 = Rs. 43264. Compound Interest = 43264 - 40000 = Rs. 3264.
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 40000 * (1 + 4/100)^2 = 40000 * 1.0816 = Rs. 43264. Compound Interest = 43264 - 40000 = Rs. 3264.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 2300 for 2 years at 10% is:
Correct Answer: Option A
Explanation:
D = 2300 × 0.01 = Rs. 23.
D = 2300 × 0.01 = Rs. 23.
This question belongs to:
Maths
Compound Interest
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