The compound interest on Rs. 1900 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 1900 at 10% per annum for 2 years is:

A. Rs. 418

B. Rs. 380

C. Rs. 437

D. Rs. 399

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 1900 × 1.21 = 2299, CI = 2299 − 1900 = Rs. 399.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs. 620. Find the sum.

A. Rs. 18000

B. Rs. 20000

C. Rs. 22000

D. Rs. 24000

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Correct Answer: Option B

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 620 = P * (10/100)^2 * (3 + 10/100) => 620 = P * (1/100) * (3.1) => 620 = P * 0.031 => P = 620 / 0.031 = Rs. 20000.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money becomes 4 times in 2 years at compound interest. The rate of interest per annum is:

A. 100%

B. 200%

C. 50%

D. 75%

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Correct Answer: Option A

Explanation:
P(1 + r)² = 4P ⇒ (1+r)² = 4 ⇒ 1+r = 2 ⇒ r = 1 = 100%.

This question belongs to: Maths Compound Interest

Question #3

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 144. Find the sum.

A. Rs. 48000

B. Rs. 44000

C. Rs. 40000

D. Rs. 36000

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Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 => 144 = P * (6/100)^2 => 144 = P * (36 / 10000) => P = (144 * 10000) / 36 = Rs. 40000.

This question belongs to: Maths Compound Interest

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