What will be the compound interest on Rs. 1200 at 10% per annum for 2 years? MCQ with Answer and Explanation

What will be the compound interest on Rs. 1200 at 10% per annum for 2 years?

A. Rs. 264

B. Rs. 252

C. Rs. 276

D. Rs. 240

Answer: Option B

A = 1200 × (1.1)² = 1200 × 1.21 = 1452, CI = 1452 − 1200 = Rs. 252.

This question belongs to: Maths Compound Interest

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

Question #1 Report Error

A sum of money at compound interest amounts to Rs. 18150 in 2 years and Rs. 19965 in 3 years. Find the sum.

A. Rs. 16000

B. Rs. 14000

C. Rs. 15000

D. Rs. 17000

Correct Answer: Option C

Explanation:
Rate = (19965/18150 − 1) × 100 = 10%. P = 18150 / 1.21 = 15000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

In how many years will Rs. 4000 amount to Rs. 4630.50 at 5% per annum compound interest?

A. 3 years

B. 3.5 years

C. 2.5 years

D. 2 years

Correct Answer: Option A

Explanation:
4000(1.05)^t = 4630.50 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the difference between compound interest and simple interest on Rs. 5000 for 2 years at 8% per annum.

A. Rs. 40

B. Rs. 36

C. Rs. 32

D. Rs. 42

Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 = 5000 * (8/100)^2 = 5000 * (64 / 10000) = Rs. 32.

This question belongs to: Maths Compound Interest