The compound interest on Rs. 5400 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 5400 at 10% per annum for 2 years is:

A. Rs. 1240

B. Rs. 1188

C. Rs. 1134

D. Rs. 1200

Answer: Option C

Solution (By JKSSB Mock Tests)

A = 5400 × (1.1)² = 5400 × 1.21 = 6534, CI = 6534 − 5400 = Rs. 1134.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest becomes 9 times in 2 years. In how many years will it become 81 times?

A. 6 years

B. 5 years

C. 4 years

D. 3 years

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Correct Answer: Option C

Explanation:
81 = 9², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

Question #2

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 7% per annum is Rs. 49. Find the sum.

A. Rs. 12000

B. Rs. 9000

C. Rs. 11000

D. Rs. 10000

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Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 49 = P * (7/100)^2 => 49 = P * (49 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest triples in 7 years. In how many years will it become 27 times?

A. 18 years

B. 28 years

C. 14 years

D. 21 years

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Correct Answer: Option D

Explanation:
27 = 3³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

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