The compound interest on Rs. 4000 for 3 years at 10% per annum is: MCQ with Answer and Explanation

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The compound interest on Rs. 4000 for 3 years at 10% per annum is:

A. Rs. 1200

B. Rs. 1300

C. Rs. 1324

D. Rs. 1260

Answer: Option C

Solution (By JKSSB Mock Tests)

A = 4000 × (1.1)³ = 4000 × 1.331 = 5324, CI = 5324 − 4000 = Rs. 1324.

This question belongs to: Maths Compound Interest

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Question #1

The compound interest on Rs. 4400 at 10% per annum for 2 years is:

A. Rs. 880

B. Rs. 968

C. Rs. 1012

D. Rs. 924

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Correct Answer: Option D

Explanation:
A = 4400 × 1.21 = 5324, CI = 5324 − 4400 = Rs. 924.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on Rs. 1400 for 2 years at 10% is:

A. Rs. 15

B. Rs. 13

C. Rs. 12

D. Rs. 14

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Correct Answer: Option D

Explanation:
D = 1400 × 0.01 = Rs. 14.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on a certain sum of money for 2 years at 8% per annum is Rs. 1248. What would be the simple interest on the same sum at the same rate for the same time?

A. Rs. 1150

B. Rs. 1220

C. Rs. 1200

D. Rs. 1240

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Correct Answer: Option C

Explanation:
Effective rate of compound interest for 2 years at 8% = 8 + 8 + (88)/100 = 16.64%. Simple interest rate = 8 * 2 = 16%. Given 16.64% of sum = 1248 => 1% of sum = 75. Simple Interest = 16% of sum = 16 * 75 = Rs. 1200.

This question belongs to: Maths Compound Interest

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