In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest? MCQ with Answer and Explanation

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In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest?

A. 2 years

B. 3.5 years

C. 2.5 years

D. 3 years

Answer: Option D

Solution (By JKSSB Mock Tests)

10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 3 years at 6% is Rs. 540. The compound interest on the same sum for 2 years at 6% is:

A. Rs. 374.40

B. Rs. 370.80

C. Rs. 380.00

D. Rs. 376.00

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Correct Answer: Option B

Explanation:
P = 54000/(6×3) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

Question #2

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What sum will amount to Rs. 2315.25 in 3 years at 5% compound interest?

A. Rs. 1800

B. Rs. 2000

C. Rs. 1900

D. Rs. 2100

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Correct Answer: Option B

Explanation:
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI on Rs. 5200 for 2 years at 10% is:

A. Rs. 52

B. Rs. 50

C. Rs. 48

D. Rs. 55

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Correct Answer: Option A

Explanation:
D = 5200 × 0.01 = Rs. 52.

This question belongs to: Maths Compound Interest

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