Find the compound interest on Rs. 4500 at 8% per annum for 2 years. MCQ with Answer and Explanation

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Find the compound interest on Rs. 4500 at 8% per annum for 2 years.

A. Rs. 748.80

B. Rs. 760.00

C. Rs. 756.00

D. Rs. 752.40

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 4500 × (1.08)² = 4500 × 1.1664 = 5248.80, CI = 5248.80 − 4500 = Rs. 748.80.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

What is the principal if the amount after 2 years at 10% compound interest is Rs. 12100?

A. Rs. 12000

B. Rs. 10000

C. Rs. 11000

D. Rs. 13000

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Correct Answer: Option B

Explanation:
P = 12100 / (1.1)² = 12100 / 1.21 = 10000.

This question belongs to: Maths Compound Interest

Question #2

A sum of money amounts to Rs. 11025 in 2 years and Rs. 11576.25 in 3 years at compound interest. Find the sum.

A. Rs. 10000

B. Rs. 10500

C. Rs. 9500

D. Rs. 9000

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Correct Answer: Option A

Explanation:
Rate = (11576.25/11025 − 1) × 100 = 5%. P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

Question #3

The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs. 186. Find the sum.

A. Rs. 7000

B. Rs. 5500

C. Rs. 6500

D. Rs. 6000

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Correct Answer: Option D

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 186 = P * (10/100)^2 * (3 + 10/100) => 186 = P * (1/100) * (3.1) => 186 = P * 0.031 => P = 186 / 0.031 = Rs. 6000.

This question belongs to: Maths Compound Interest

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