In what time will Rs. 5000 amount to Rs. 6050 at 10% per annum compound interest? MCQ with Answer and Explanation

Question

Share Report Error

In what time will Rs. 5000 amount to Rs. 6050 at 10% per annum compound interest?

A. 1 year

B. 3 years

C. 2 years

D. 4 years

Answer: Option C

Solution (By JKSSB Mock Tests)

5000(1.1)^t = 6050 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

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

A. Rs. 636

B. Rs. 650

C. Rs. 640

D. Rs. 630

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

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

This question belongs to: Maths Compound Interest

Question #2

Find the compound interest on Rs. 2500 at 8% per annum compounded half-yearly for 1 year.

A. Rs. 200

B. Rs. 212

C. Rs. 204

D. Rs. 208

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Half-yearly rate = 4%, n=2. A = 2500 × (1.04)² = 2500 × 1.0816 = 2704, CI = 2704 − 2500 = Rs. 204.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 5000 at 10% per annum compounded half-yearly for 1 year.

A. Rs. 500

B. Rs. 512.50

C. Rs. 525

D. Rs. 550

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Half-yearly rate 5%, n=2. A = 5000 × (1.05)² = 5000 × 1.1025 = 5512.50, CI = 5512.50 − 5000 = Rs. 512.50.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs