The compound interest on Rs. 11000 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 11000 at 10% per annum for 2 years is:

A. Rs. 2420

B. Rs. 2200

C. Rs. 2530

D. Rs. 2310

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 11000 × 1.21 = 13310, CI = 13310 − 11000 = Rs. 2310.

This question belongs to: Maths Compound Interest

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Question #1

Find the principal if the compound interest at 10% per annum for 2 years is Rs. 630.

A. Rs. 3500

B. Rs. 3000

C. Rs. 3200

D. Rs. 2800

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Correct Answer: Option B

Explanation:
CI = P × 0.21 = 630 ⇒ P = 630 / 0.21 = 3000.

This question belongs to: Maths Compound Interest

Question #2

A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 16 times of itself?

A. 15 years

B. 20 years

C. 30 years

D. 25 years

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Correct Answer: Option B

Explanation:
The sum becomes 2^1 times in 5 years. It will become 16 (2^4) times in 4 * 5 = 20 years.

This question belongs to: Maths Compound Interest

Question #3

The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 18

B. Rs. 22

C. Rs. 16

D. Rs. 20

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Correct Answer: Option D

Explanation:
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

This question belongs to: Maths Compound Interest

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