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. 1260

C. Rs. 1324

D. Rs. 1300

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

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What is the difference between the compound interest and simple interest on Rs. 4000 for 2 years at 5% per annum?

A. Rs. 10

B. Rs. 25

C. Rs. 15

D. Rs. 20

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Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 = 4000 * (5/100)^2 = 4000 * (25 / 10000) = Rs. 10.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent per annum will Rs. 25000 amount to Rs. 29160 in 2 years, compound interest compounded annually?

A. 10%

B. 12%

C. 6%

D. 8%

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Correct Answer: Option D

Explanation:
Amount/Principal = 29160 / 25000 = 2916 / 2500 = (54 / 50)^2 = (1.08)^2. Therefore, 1 + R/100 = 1.08 => R = 8%.

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Question #3

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What sum will amount to Rs. 11664 in 2 years at 8% compound interest?

A. Rs. 10000

B. Rs. 11000

C. Rs. 9500

D. Rs. 10500

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Correct Answer: Option A

Explanation:
P = 11664 / (1.08)² = 11664 / 1.1664 = 10000.

This question belongs to: Maths Compound Interest

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