Find the compound interest on Rs. 2500 at 12% per annum for 2 years. MCQ with Answer and Explanation

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Find the compound interest on Rs. 2500 at 12% per annum for 2 years.

A. Rs. 636

B. Rs. 630

C. Rs. 650

D. Rs. 640

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 2500 × (1.12)² = 2500 × 1.2544 = 3136, CI = 3136 − 2500 = Rs. 636.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

At what rate percent per annum will Rs. 5000 amount to Rs. 5618 in 2 years at compound interest?

A. 7%

B. 6%

C. 5%

D. 8%

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Correct Answer: Option B

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest

Question #2

The simple interest on a sum for 3 years at 12% is Rs. 432. The compound interest on the same sum for 2 years at 12% is:

A. Rs. 300

B. Rs. 310

C. Rs. 305.28

D. Rs. 303.36

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Correct Answer: Option C

Explanation:
P = 43200/(12×3) = 43200/36 = 1200. CI = 1200[(1.12)² − 1] = 1200 × 0.2544 = 305.28.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 50000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 6275.44

B. Rs. 6000.00

C. Rs. 6400.00

D. Rs. 6520.50

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Correct Answer: Option A

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 50000 * (1 + 3/100)^4 = 50000 * (1.03)^4 = 50000 * 1.12550881 = Rs. 56275.44. Compound Interest = 56275.44 - 50000 = Rs. 6275.44.

This question belongs to: Maths Compound Interest

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