The compound interest on Rs. 5900 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 5900 at 10% per annum for 2 years is:

A. Rs. 1239

B. Rs. 1298

C. Rs. 1180

D. Rs. 1357

Answer: Option A

Solution (By JKSSB Mock Tests)

A = 5900 × 1.21 = 7139, CI = 7139 − 5900 = Rs. 1239.

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 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 1000

B. Rs. 1100

C. Rs. 1050

D. Rs. 1025

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Correct Answer: Option C

Explanation:
P = 100000/(10×2) = 5000. CI = 5000 × 0.21 = 1050.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest amounts to Rs. 6655 in 3 years and to Rs. 7320.50 in 4 years. Find the rate of interest.

A. 8%

B. 11%

C. 9%

D. 10%

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Correct Answer: Option D

Explanation:
Rate = (7320.50/6655 − 1) × 100 = (1.1 − 1) × 100 = 10%.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money invested at compound interest doubles itself in 5 years. In how many years will it become 8 times of itself?

A. 25 years

B. 20 years

C. 10 years

D. 15 years

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Correct Answer: Option D

Explanation:
The sum doubles (2^1) in 5 years. It will become 8 (2^3) times in 3 * 5 = 15 years.

This question belongs to: Maths Compound Interest

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