What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest? MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on Rs. 4100 for 2 years at 5% is:
Correct Answer: Option A
Explanation:
D = 4100 × 0.0025 = Rs. 10.25.
D = 4100 × 0.0025 = Rs. 10.25.
This question belongs to:
Maths
Compound Interest
Question #2
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Find the compound interest on Rs. 50000 for 1 year at 8% per annum, compounded quarterly.
Correct Answer: Option A
Explanation:
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 50000 * (1 + 2/100)^4 = 50000 * (1.02)^4 = 50000 * 1.08243216 = Rs. 54121.61. Compound Interest = 54121.61 - 50000 = Rs. 4121.61.
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 50000 * (1 + 2/100)^4 = 50000 * (1.02)^4 = 50000 * 1.08243216 = Rs. 54121.61. Compound Interest = 54121.61 - 50000 = Rs. 4121.61.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is:
Correct Answer: Option B
Explanation:
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.
This question belongs to:
Maths
Compound Interest
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