Find the amount on Rs. 1800 at 10% per annum compound interest for 2 years. MCQ with Answer and Explanation

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Find the amount on Rs. 1800 at 10% per annum compound interest for 2 years.

A. Rs. 2196

B. Rs. 2200

C. Rs. 2160

D. Rs. 2178

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 1800 × (1.1)² = 1800 × 1.21 = 2178.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

At what rate percent compound interest will Rs. 5000 amount to Rs. 6050 in 2 years?

A. 9%

B. 10%

C. 12%

D. 8%

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Correct Answer: Option B

Explanation:
5000(1+r)² = 6050 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #2

A sum of money at compound interest amounts to Rs. 6655 in 3 years and to Rs. 7320.50 in 4 years. Find the rate of interest.

A. 11%

B. 8%

C. 10%

D. 9%

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Correct Answer: Option C

Explanation:
Rate = (7320.50/6655 − 1) × 100 = (1.1 − 1) × 100 = 10%.

This question belongs to: Maths Compound Interest

Question #3

The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 16. Find the sum.

A. Rs. 9000

B. Rs. 10000

C. Rs. 12000

D. Rs. 11000

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Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 16 = P * (4/100)^2 => 16 = P * (16 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

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