The compound interest on Rs. 14000 at 10% per annum for 2 years is: MCQ with Answer and Explanation

Question

Share Report Error

The compound interest on Rs. 14000 at 10% per annum for 2 years is:

A. Rs. 3080

B. Rs. 2800

C. Rs. 2940

D. Rs. 3100

Answer: Option C

Solution (By JKSSB Mock Tests)

A = 14000 × (1.1)² = 14000 × 1.21 = 16940, CI = 16940 − 14000 = Rs. 2940.

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

The effective annual rate for 10% per annum compounded quarterly is:

A. 10.47%

B. 10.38%

C. 10.25%

D. 10.50%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Quarterly rate 2.5%, (1.025)⁴ = 1.10381289, effective ≈ 10.38%.

This question belongs to: Maths Compound Interest

Question #2

The compound interest on Rs. 500 for 2 years at 4% per annum is:

A. Rs. 41.60

B. Rs. 42.40

C. Rs. 40.00

D. Rs. 40.80

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
A = 500 × (1.04)² = 500 × 1.0816 = 540.80, CI = 540.80 − 500 = Rs. 40.80.

This question belongs to: Maths Compound Interest

Question #3

The effective rate of interest for 5% per annum compounded half-yearly is:

A. 5.12%

B. 5.10%

C. 5.0625%

D. 5.05%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Effective rate = (1.025)² − 1 = 1.050625 − 1 = 5.0625%.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs