At what rate of compound interest will Rs. 12800 amount to Rs. 15488 in 2 years? MCQ with Answer and Explanation

Question

Share Report Error

At what rate of compound interest will Rs. 12800 amount to Rs. 15488 in 2 years?

A. 15%

B. 8%

C. 10%

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

12800(1+r)² = 15488 ⇒ (1+r)² = 1.21 = (1.1)² ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

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

Practice More Compound Interest Questions

Question #1

Share Report

Find the compound interest on Rs. 10000 for 1 year at 16% per annum, compounded quarterly.

A. Rs. 1750.00

B. Rs. 1698.59

C. Rs. 1720.00

D. Rs. 1600.00

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Quarterly rate = 16 / 4 = 4%. Time = 4 quarters. Amount = 10000 * (1 + 4/100)^4 = 10000 * (1.04)^4 = 10000 * 1.16985856 = Rs. 11698.59. Compound Interest = 11698.59 - 10000 = Rs. 1698.59.

This question belongs to: Maths Compound Interest

Question #2

Share Report

A sum becomes Rs. 2315.25 in 2 years at 5% compound interest. Find the sum.

A. Rs. 2000

B. Rs. 2300

C. Rs. 2200

D. Rs. 2100

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
P = 2315.25 / (1.05)² = 2315.25 / 1.1025 = 2100.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The difference between CI and SI on a sum for 2 years at 10% is Rs. 60. The sum is:

A. Rs. 5500

B. Rs. 6000

C. Rs. 6500

D. Rs. 5000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
D = P × 0.01 = 60 ⇒ P = 6000.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs