The compound interest on Rs. 2200 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 2200 at 10% per annum for 2 years is:

A. Rs. 500

B. Rs. 462

C. Rs. 484

D. Rs. 520

Answer: Option B

Solution (By JKSSB Mock Tests)

A = 2200 × (1.1)² = 2200 × 1.21 = 2662, CI = 2662 − 2200 = Rs. 462.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

A certain sum amounts to Rs. 2205 in 2 years at 5% compound interest. The sum is:

A. Rs. 1900

B. Rs. 2000

C. Rs. 2100

D. Rs. 2150

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Correct Answer: Option B

Explanation:
P = 2205 / (1.05)² = 2205 / 1.1025 = 2000.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on Rs. 6900 for 2 years at 10% is:

A. Rs. 65

B. Rs. 69

C. Rs. 60

D. Rs. 72

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Correct Answer: Option B

Explanation:
D = 6900 × 0.01 = Rs. 69.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on Rs. 1000 for 3 years at 10% per annum is:

A. Rs. 340

B. Rs. 331

C. Rs. 310

D. Rs. 320

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Correct Answer: Option B

Explanation:
A = 1000 × (1.1)³ = 1000 × 1.331 = 1331, CI = 1331 − 1000 = Rs. 331.

This question belongs to: Maths Compound Interest

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