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. 2940

B. Rs. 3080

C. Rs. 2800

D. Rs. 3100

Answer: Option A

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

What is the compound interest on Rs. 40000 for 1 year at 20% per annum, compounded half-yearly?

A. Rs. 8600

B. Rs. 8800

C. Rs. 8000

D. Rs. 8400

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 40000 * (1 + 10/100)^2 = 40000 * 1.21 = Rs. 48400. Compound Interest = 48400 - 40000 = Rs. 8400.

This question belongs to: Maths Compound Interest

Question #2

In how many years will Rs. 2000 amount to Rs. 2420 at 10% per annum compound interest, compounded annually?

A. 2 years

B. 1 year

C. 3 years

D. 1.5 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Amount/Principal = 2420 / 2000 = 121 / 100 = (11 / 10)^2. Since the annual rate is 10%, expansion factor is 11/10. Therefore, time = 2 years.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 20000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 3250

B. Rs. 3152.50

C. Rs. 3100

D. Rs. 3200

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Half-yearly rate 5%, n=3. A = 20000 × (1.05)³ = 20000 × 1.157625 = 23152.50, CI = 23152.50 − 20000 = Rs. 3152.50.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs