Find the amount on Rs. 12500 at 8% per annum compound interest for 2 years. MCQ with Answer and Explanation

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Find the amount on Rs. 12500 at 8% per annum compound interest for 2 years.

A. Rs. 14640

B. Rs. 14600

C. Rs. 14580

D. Rs. 14620

Answer: Option C

Solution (By JKSSB Mock Tests)

A = 12500 × (1.08)² = 12500 × 1.1664 = 14580.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The effective annual rate for 12% per annum compounded half-yearly is:

A. 12.25%

B. 12.50%

C. 12.36%

D. 12.60%

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Correct Answer: Option C

Explanation:
Effective = (1.06)² − 1 = 1.1236 − 1 = 12.36%.

This question belongs to: Maths Compound Interest

Question #2

A sum of money triples itself in 3 years at compound interest. In how many years will it become 9 times?

A. 7 years

B. 5 years

C. 8 years

D. 6 years

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Correct Answer: Option D

Explanation:
3 times in 3 years; 9 = 3², so time = 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #3

At what rate percent compound interest will Rs. 6000 amount to Rs. 7260 in 2 years?

A. 12%

B. 8%

C. 10%

D. 15%

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Correct Answer: Option C

Explanation:
6000(1+r)² = 7260 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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