In how many years will Rs. 900 amount to Rs. 1089 at 10% per annum compound interest? MCQ with Answer and Explanation

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In how many years will Rs. 900 amount to Rs. 1089 at 10% per annum compound interest?

A. 1 year

B. 2 years

C. 1.5 years

D. 2.5 years

Answer: Option B

Solution (By JKSSB Mock Tests)

900(1.1)^t = 1089 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 4100 for 2 years at 5% is:

A. Rs. 11.00

B. Rs. 10.25

C. Rs. 8.50

D. Rs. 9.50

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Correct Answer: Option B

Explanation:
D = 4100 × 0.0025 = Rs. 10.25.

This question belongs to: Maths Compound Interest

Question #2

A sum of money at compound interest doubles in 5 years. In how many years will it become 4 times?

A. 12 years

B. 10 years

C. 8 years

D. 15 years

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Correct Answer: Option B

Explanation:
2²=4, so 5×2=10 years.

This question belongs to: Maths Compound Interest

Question #3

What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest?

A. Rs. 11000

B. Rs. 12000

C. Rs. 13000

D. Rs. 14000

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Correct Answer: Option B

Explanation:
P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

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