The compound interest on Rs. 2700 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 2700 at 10% per annum for 2 years is:

A. Rs. 612

B. Rs. 600

C. Rs. 594

D. Rs. 567

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 2700 × 1.21 = 3267, CI = 3267 − 2700 = Rs. 567.

This question belongs to: Maths Compound Interest

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Question #1

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Find the compound interest on Rs. 10000 for 1 year at 4% per annum, compounded quarterly.

A. Rs. 406.04

B. Rs. 410.00

C. Rs. 400.00

D. Rs. 412.20

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Correct Answer: Option A

Explanation:
Quarterly rate = 4 / 4 = 1%. Time = 4 quarters. Amount = 10000 * (1 + 1/100)^4 = 10000 * (1.01)^4 = 10000 * 1.04060401 = Rs. 10406.04. Compound Interest = 10406.04 - 10000 = Rs. 406.04.

This question belongs to: Maths Compound Interest

Question #2

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Find the compound interest on Rs. 4500 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 450

B. Rs. 472.50

C. Rs. 461.25

D. Rs. 480

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Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=2. A = 4500 × (1.05)² = 4500 × 1.1025 = 4961.25, CI = 4961.25 − 4500 = Rs. 461.25.

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Question #3

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The compound interest on Rs. 10000 at 10% per annum for 2 years compounded half-yearly is:

A. Rs. 2155.06

B. Rs. 2200

C. Rs. 2250

D. Rs. 2300

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Correct Answer: Option A

Explanation:
Half-yearly rate 5%, n=4. A = 10000 × (1.05)⁴ = 10000 × 1.21550625 = 12155.0625, CI = Rs. 2155.06.

This question belongs to: Maths Compound Interest

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