Find the amount on Rs. 8000 at 10% per annum compound interest for 3 years. MCQ with Answer and Explanation

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Find the amount on Rs. 8000 at 10% per annum compound interest for 3 years.

A. Rs. 10648

B. Rs. 11200

C. Rs. 10800

D. Rs. 11000

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 8000 × (1.1)³ = 8000 × 1.331 = 10648.

This question belongs to: Maths Compound Interest

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Question #1

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A sum amounts to Rs. 1331 in 3 years and Rs. 1464.10 in 4 years at compound interest. Find the sum.

A. Rs. 1000

B. Rs. 800

C. Rs. 900

D. Rs. 1100

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Correct Answer: Option A

Explanation:
Rate = (1464.10/1331 − 1) × 100 = 10%. P = 1331 / (1.1)³ = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

Question #2

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The simple interest on a sum for 2 years at 9% is Rs. 540. The compound interest on the same sum for 2 years at 9% is:

A. Rs. 570.00

B. Rs. 561.60

C. Rs. 567.00

D. Rs. 564.30

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Correct Answer: Option D

Explanation:
P = 54000/(9×2) = 3000. CI = 3000[(1.09)² − 1] = 3000 × 0.1881 = 564.30.

This question belongs to: Maths Compound Interest

Question #3

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What sum will amount to Rs. 8820 in 2 years at 5% compound interest?

A. Rs. 8000

B. Rs. 8400

C. Rs. 8200

D. Rs. 7800

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Correct Answer: Option A

Explanation:
P = 8820 / 1.1025 = 8000.

This question belongs to: Maths Compound Interest

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