The compound interest on Rs. 900 at 10% per annum for 2 years is: MCQ with Answer and Explanation

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The compound interest on Rs. 900 at 10% per annum for 2 years is:

A. Rs. 207

B. Rs. 180

C. Rs. 198

D. Rs. 189

Answer: Option D

Solution (By JKSSB Mock Tests)

A = 900 × (1.1)² = 900 × 1.21 = 1089, CI = 1089 − 900 = Rs. 189.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The compound interest on a sum for 2 years at 6% is Rs. 370.80. The sum is:

A. Rs. 2800

B. Rs. 3000

C. Rs. 3400

D. Rs. 3200

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Correct Answer: Option B

Explanation:
CI = P × 0.1236 = 370.80 ⇒ P = 3000.

This question belongs to: Maths Compound Interest

Question #2

The simple interest on a sum for 2 years at 12% is Rs. 720. The compound interest on the same sum for 2 years at 12% is:

A. Rs. 768.00

B. Rs. 752.64

C. Rs. 763.20

D. Rs. 760.00

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Correct Answer: Option C

Explanation:
P = 72000/(12×2) = 3000. CI = 3000[(1.12)² − 1] = 3000 × 0.2544 = 763.20.

This question belongs to: Maths Compound Interest

Question #3

The effective annual rate for 20% per annum compounded half-yearly is:

A. 22%

B. 21%

C. 21.5%

D. 20.5%

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Correct Answer: Option B

Explanation:
Half-yearly rate 10%, (1.1)² = 1.21, effective = 21%.

This question belongs to: Maths Compound Interest

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