Find the amount on Rs. 6000 at 8% per annum compound interest for 3 years. MCQ with Answer and Explanation

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Find the amount on Rs. 6000 at 8% per annum compound interest for 3 years.

A. Rs. 7558.27

B. Rs. 7600

C. Rs. 7580

D. Rs. 7560

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 6000 × (1.08)³ = 6000 × 1.259712 = 7558.272.

This question belongs to: Maths Compound Interest

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Question #1

The compound interest on Rs. 3400 at 10% per annum for 2 years is:

A. Rs. 748

B. Rs. 800

C. Rs. 714

D. Rs. 780

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Correct Answer: Option C

Explanation:
A = 3400 × 1.21 = 4114, CI = 4114 − 3400 = Rs. 714.

This question belongs to: Maths Compound Interest

Question #2

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. 17000

D. Rs. 15000

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Correct Answer: Option D

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

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. 64. Find the sum.

A. Rs. 44000

B. Rs. 40000

C. Rs. 36000

D. Rs. 48000

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Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.

This question belongs to: Maths Compound Interest

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