Find the compound interest on Rs. 2000 at 4% per annum for 1 year compounded quarterly. MCQ with Answer and Explanation

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Find the compound interest on Rs. 2000 at 4% per annum for 1 year compounded quarterly.

A. Rs. 83.00

B. Rs. 80.80

C. Rs. 82.40

D. Rs. 81.21

Answer: Option D

Solution (By JKSSB Mock Tests)

Quarterly rate 1%, n=4. A = 2000 × (1.01)⁴ = 2000 × 1.04060401 = 2081.208, CI = 81.208 ≈ 81.21.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

Find the amount of Rs. 5000 at compound interest for 3 years at 4% per annum.

A. Rs. 5660

B. Rs. 5624.32

C. Rs. 5600

D. Rs. 5648

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Correct Answer: Option B

Explanation:
A = 5000 × (1.04)³ = 5000 × 1.124864 = 5624.32.

This question belongs to: Maths Compound Interest

Question #2

The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is:

A. Rs. 3800

B. Rs. 4400

C. Rs. 4200

D. Rs. 4000

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Correct Answer: Option D

Explanation:
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.

This question belongs to: Maths Compound Interest

Question #3

The difference between compound interest and simple interest on a sum for 2 years at 5% per annum is Rs. 25. The sum is:

A. Rs. 10000

B. Rs. 15000

C. Rs. 12000

D. Rs. 8000

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Correct Answer: Option A

Explanation:
Difference = P × (r/100)² ⇒ 25 = P × 0.0025 ⇒ P = 10000.

This question belongs to: Maths Compound Interest

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