Find the compound interest on Rs. 14400 at 5% per annum for 2 years. MCQ with Answer and Explanation

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Find the compound interest on Rs. 14400 at 5% per annum for 2 years.

A. Rs. 1440

B. Rs. 1548

C. Rs. 1512

D. Rs. 1476

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 14400 × 1.1025 = 15876, CI = 15876 − 14400 = Rs. 1476.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money amounts to Rs. 10816 in 2 years and Rs. 11248.64 in 3 years at compound interest. Find the sum.

A. Rs. 9000

B. Rs. 9500

C. Rs. 10000

D. Rs. 10500

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Correct Answer: Option C

Explanation:
Rate = (11248.64/10816 − 1) × 100 = 4%. P = 10816 / (1.04)² = 10000.

This question belongs to: Maths Compound Interest

Question #2

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In how many years will Rs. 4000 amount to Rs. 4630.50 at 5% per annum compound interest?

A. 2.5 years

B. 3.5 years

C. 2 years

D. 3 years

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Correct Answer: Option D

Explanation:
4000(1.05)^t = 4630.50 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

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Question #3

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What is the difference between the compound interest and simple interest on Rs. 4000 for 2 years at 5% per annum?

A. Rs. 15

B. Rs. 20

C. Rs. 10

D. Rs. 25

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Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 = 4000 * (5/100)^2 = 4000 * (25 / 10000) = Rs. 10.

This question belongs to: Maths Compound Interest

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