The compound interest on Rs. 5500 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 5500 at 10% per annum for 2 years is:

A. Rs. 1320

B. Rs. 1265

C. Rs. 1210

D. Rs. 1155

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 5500 × 1.21 = 6655, CI = 6655 − 5500 = Rs. 1155.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent will a sum of Rs. 4000 amount to Rs. 4410 in 2 years at compound interest?

A. 4%

B. 5%

C. 6%

D. 8%

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Correct Answer: Option B

Explanation:
4000(1+r)² = 4410 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?

A. 45 years

B. 30 years

C. 40 years

D. 35 years

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Correct Answer: Option D

Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.

This question belongs to: Maths Compound Interest

Question #3

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At what rate percent compound interest will Rs. 3200 amount to Rs. 3872 in 2 years?

A. 8%

B. 12%

C. 15%

D. 10%

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Correct Answer: Option D

Explanation:
3200(1+r)² = 3872 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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