The simple interest on a sum for 2 years at 9% is Rs. 540. The compound interest on the same sum for 2 years at 9% is: MCQ with Answer and Explanation

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The simple interest on a sum for 2 years at 9% is Rs. 540. The compound interest on the same sum for 2 years at 9% is:

A. Rs. 570.00

B. Rs. 561.60

C. Rs. 564.30

D. Rs. 567.00

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 54000/(9×2) = 3000. CI = 3000[(1.09)² − 1] = 3000 × 0.1881 = 564.30.

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 2 times in 3 years. In how many years will it become 32 times?

A. 12 years

B. 15 years

C. 18 years

D. 21 years

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Correct Answer: Option B

Explanation:
32 = 2⁵, so 3 × 5 = 15 years.

This question belongs to: Maths Compound Interest

Question #2

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Find the compound interest on Rs. 2500 at 12% per annum for 2 years.

A. Rs. 636

B. Rs. 630

C. Rs. 650

D. Rs. 640

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Correct Answer: Option A

Explanation:
A = 2500 × (1.12)² = 2500 × 1.2544 = 3136, CI = 3136 − 2500 = Rs. 636.

This question belongs to: Maths Compound Interest

Question #3

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At what rate of compound interest will Rs. 2000 amount to Rs. 2205 in 2 years?

A. 6%

B. 4%

C. 5%

D. 7%

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Correct Answer: Option C

Explanation:
2000(1+r)² = 2205 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

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