Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years. MCQ with Answer and Explanation

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Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years.

A. Rs. 15900

B. Rs. 15746.40

C. Rs. 16000

D. Rs. 15800

Answer: Option B

Solution (By JKSSB Mock Tests)

A = 13500 × (1.08)² = 13500 × 1.1664 = 15746.40.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of Rs. 12000 deposited at compound interest becomes double after 5 years. After 20 years, it will become:

A. Rs. 96000

B. Rs. 120000

C. Rs. 192000

D. Rs. 182000

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Correct Answer: Option C

Explanation:
In 20 years, there are 20 / 5 = 4 intervals of 5 years. Expansion factor = 2^4 = 16. Total amount = 12000 * 16 = Rs. 192000.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent compound interest will a sum of Rs. 4000 become Rs. 5324 in 3 years?

A. 10%

B. 15%

C. 8%

D. 12%

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Correct Answer: Option A

Explanation:
4000(1+r)³ = 5324 ⇒ (1+r)³ = 1.331 = (1.1)³ ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 50000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 6520.50

B. Rs. 6000.00

C. Rs. 6275.44

D. Rs. 6400.00

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Correct Answer: Option C

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 50000 * (1 + 3/100)^4 = 50000 * (1.03)^4 = 50000 * 1.12550881 = Rs. 56275.44. Compound Interest = 56275.44 - 50000 = Rs. 6275.44.

This question belongs to: Maths Compound Interest

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