Find the compound interest on Rs. 10000 at 8% per annum compounded quarterly for 1 year. MCQ with Answer and Explanation

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Find the compound interest on Rs. 10000 at 8% per annum compounded quarterly for 1 year.

A. Rs. 824.32

B. Rs. 800

C. Rs. 832

D. Rs. 816

Answer: Option A

Solution (By JKSSB Mock Tests)

Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI = Rs. 824.32.

This question belongs to: Maths Compound Interest

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Question #1

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In how many years will Rs. 800 amount to Rs. 882 at 5% per annum compound interest?

A. 2 years

B. 4 years

C. 1 year

D. 3 years

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Correct Answer: Option A

Explanation:
800(1.05)^t = 882 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is:

A. Rs. 4.80

B. Rs. 3.60

C. Rs. 4.00

D. Rs. 3.20

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Correct Answer: Option D

Explanation:
D = 2000 × (0.04)² = 2000 × 0.0016 = Rs. 3.20.

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Question #3

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The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is:

A. Rs. 12000

B. Rs. 15000

C. Rs. 13000

D. Rs. 14000

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Correct Answer: Option B

Explanation:
D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest

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