What sum will amount to Rs. 2315.25 in 3 years at 5% 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. 1100 for 2 years at 10% is:
Correct Answer: Option C
Explanation:
D = 1100 × 0.01 = Rs. 11.
D = 1100 × 0.01 = Rs. 11.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between CI and SI on Rs. 6000 for 2 years at 5% is:
Correct Answer: Option B
Explanation:
D = 6000 × (0.05)² = 6000 × 0.0025 = Rs. 15.
D = 6000 × (0.05)² = 6000 × 0.0025 = Rs. 15.
This question belongs to:
Maths
Compound Interest
Question #3
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In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest?
Correct Answer: Option D
Explanation:
10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.
10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.
This question belongs to:
Maths
Compound Interest
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