The compound interest on Rs. 3000 at 5% per annum for 3 years is: MCQ with Answer and Explanation

Question

Share Report Error

The compound interest on Rs. 3000 at 5% per annum for 3 years is:

A. Rs. 478.00

B. Rs. 475.00

C. Rs. 472.875

D. Rs. 472.50

Answer: Option C

Solution (By JKSSB Mock Tests)

A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.

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

Share Report

The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs. 31. Find the sum.

A. Rs. 800

B. Rs. 1500

C. Rs. 1200

D. Rs. 1000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 31 = P * (10/100)^2 * (3 + 10/100) => 31 = P * (1/100) * (3.1) => 31 = P * 0.031 => P = 31 / 0.031 = Rs. 1000.

This question belongs to: Maths Compound Interest

Question #2

Share Report

In how many years will Rs. 2500 amount to Rs. 2756.25 at 5% per annum compound interest?

A. 1.5 years

B. 2 years

C. 3 years

D. 2.5 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
2500(1.05)^t = 2756.25 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The difference between CI and SI on Rs. 4100 for 2 years at 5% is:

A. Rs. 8.50

B. Rs. 11.00

C. Rs. 10.25

D. Rs. 9.50

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
D = 4100 × 0.0025 = Rs. 10.25.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs