Find the compound interest on Rs. 7200 at 5% per annum for 2 years. MCQ with Answer and Explanation

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Find the compound interest on Rs. 7200 at 5% per annum for 2 years.

A. Rs. 738

B. Rs. 740

C. Rs. 742

D. Rs. 744

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 7200 × (1.05)² = 7200 × 1.1025 = 7938, CI = 7938 − 7200 = Rs. 738.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

Find the compound interest on Rs. 10000 at 8% per annum for 1 year compounded quarterly.

A. Rs. 824.32

B. Rs. 800

C. Rs. 832

D. Rs. 816

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Correct Answer: Option A

Explanation:
Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI ≈ Rs. 824.32.

This question belongs to: Maths Compound Interest

Question #2

The compound interest on a sum for 2 years at 11% is Rs. 464.20. The sum is:

A. Rs. 2000

B. Rs. 1900

C. Rs. 1800

D. Rs. 2100

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Correct Answer: Option A

Explanation:
CI = P[(1.11)² − 1] = P × 0.2321 = 464.20 ⇒ P = 2000.

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Question #3

Find the compound interest on Rs. 1500 at 10% per annum for 2 years.

A. Rs. 315

B. Rs. 330

C. Rs. 300

D. Rs. 310

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Correct Answer: Option A

Explanation:
A = 1500 × (1.1)² = 1500 × 1.21 = 1815, CI = 1815 − 1500 = Rs. 315.

This question belongs to: Maths Compound Interest

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