Find the compound interest on Rs. 16800 at 10% per annum for 2 years. MCQ with Answer and Explanation

Question

Share Report Error

Find the compound interest on Rs. 16800 at 10% per annum for 2 years.

A. Rs. 3528

B. Rs. 3864

C. Rs. 3696

D. Rs. 3360

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 16800 × 1.21 = 20328, CI = 20328 − 16800 = Rs. 3528.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

What is the compound interest on Rs. 16000 for 1.5 years at 10% per annum, compounded half-yearly?

A. Rs. 2520

B. Rs. 2400

C. Rs. 2600

D. Rs. 2522

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Half-yearly rate = 10/2 = 5%. Time = 1.5 years = 3 half-years. Amount = 16000 * (1 + 5/100)^3 = 16000 * (1.05)^3 = 16000 * 1.157625 = Rs. 18522. Compound Interest = 18522 - 16000 = Rs. 2522.

This question belongs to: Maths Compound Interest

Question #2

Share Report

The compound interest on Rs. 1000 for 3 years at 10% per annum is:

A. Rs. 310

B. Rs. 320

C. Rs. 331

D. Rs. 340

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
A = 1000 × (1.1)³ = 1000 × 1.331 = 1331, CI = 1331 − 1000 = Rs. 331.

This question belongs to: Maths Compound Interest

Question #3

Share Report

A sum of money at compound interest doubles itself in 5 years. In how many years will it become 8 times?

A. 20 years

B. 10 years

C. 25 years

D. 15 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Doubles in 5 years; 8 = 2³, so time = 5 × 3 = 15 years.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs