The compound interest on Rs. 3300 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 3300 at 10% per annum for 2 years is:

A. Rs. 750

B. Rs. 726

C. Rs. 780

D. Rs. 693

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 3300 × (1.1)² = 3300 × 1.21 = 3993, CI = 3993 − 3300 = Rs. 693.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

A sum becomes Rs. 6615 in 2 years and Rs. 6945.75 in 3 years at compound interest. Find the sum.

A. Rs. 5800

B. Rs. 6200

C. Rs. 6400

D. Rs. 6000

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Correct Answer: Option D

Explanation:
Rate = (6945.75/6615 − 1) × 100 = 5%. P = 6615 / (1.05)² = 6615 / 1.1025 = 6000.

This question belongs to: Maths Compound Interest

Question #2

In how many years will a sum of Rs. 800 become Rs. 926.10 at 5% compound interest?

A. 2 years

B. 2.5 years

C. 3.5 years

D. 3 years

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Correct Answer: Option D

Explanation:
800(1.05)^t = 926.10 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 100000 for 1 year at 16% per annum, compounded quarterly.

A. Rs. 17200.00

B. Rs. 16000.00

C. Rs. 16985.86

D. Rs. 17500.00

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Correct Answer: Option C

Explanation:
Quarterly rate = 16 / 4 = 4%. Time = 4 quarters. Amount = 100000 * (1 + 4/100)^4 = 100000 * (1.04)^4 = 100000 * 1.16985856 = Rs. 116985.86. Compound Interest = 116985.86 - 100000 = Rs. 16985.86.

This question belongs to: Maths Compound Interest

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