The compound interest on Rs. 4400 at 10% per annum for 2 years is: MCQ with Answer and Explanation

Question

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

A. Rs. 924

B. Rs. 1012

C. Rs. 880

D. Rs. 968

Answer: Option A

Solution (By JKSSB Mock Tests)

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

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 6% is Rs. 360. The compound interest for the same period and rate is:

A. Rs. 372.00

B. Rs. 370.80

C. Rs. 375.00

D. Rs. 378.00

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Correct Answer: Option B

Explanation:
P = 36000/(6×2) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

Question #2

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The effective rate of interest for 4% per annum compounded half-yearly is:

A. 4.04%

B. 4.08%

C. 4.16%

D. 4.20%

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Correct Answer: Option A

Explanation:
Effective = (1.02)² − 1 = 1.0404 − 1 = 4.04%.

This question belongs to: Maths Compound Interest

Question #3

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What sum will amount to Rs. 1323 in 2 years at 5% compound interest?

A. Rs. 1250

B. Rs. 1300

C. Rs. 1200

D. Rs. 1150

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Correct Answer: Option C

Explanation:
P = 1323 / 1.1025 = 1200.

This question belongs to: Maths Compound Interest

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