What sum will amount to Rs. 8820 in 2 years at 5% compound interest? MCQ with Answer and Explanation

What sum will amount to Rs. 8820 in 2 years at 5% compound interest?

A. Rs. 8200

B. Rs. 7800

C. Rs. 8000

D. Rs. 8400

Answer: Option C

P = 8820 / 1.1025 = 8000.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

The difference between compound interest and simple interest on Rs. 1600 for 2 years at 5% is:

A. Rs. 5.00

B. Rs. 4.80

C. Rs. 4.00

D. Rs. 3.20

Correct Answer: Option C

Explanation:
D = 1600 × (0.05)² = 1600 × 0.0025 = Rs. 4.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?

A. 9 years

B. 6 years

C. 7 years

D. 12 years

Correct Answer: Option A

Explanation:
512 = 8³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest becomes 2 times in 3 years. In how many years will it become 32 times?

A. 21 years

B. 12 years

C. 18 years

D. 15 years

Correct Answer: Option D

Explanation:
32 = 2⁵, so 3 × 5 = 15 years.

This question belongs to: Maths Compound Interest