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In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually

  • 2 Years
  • 3 Years
  • 4 Years
  • 5 Years

Answer: Option B

Explanation:

Principal = Rs.1000;
Amount = Rs.1331;
Rate = Rs.10%p.a.

Let the time be n years then,

1000(1+10100)n=1331(1110)n=13311000(1110)3=13311000


So answer is 3 years

Similar Questions :

1. If the simple interest on a sum of money for 2 years at 5% per annum is Rs.50, what will be the compound interest on same values

  • Rs.51.75
  • Rs 51.50
  • Rs 51.25
  • Rs 51

Answer: Option C

Explanation:

S.I.=P∗R∗T100P=50∗1005∗2=500Amount=500(1+5100)2500(2120∗2120)=551.25C.I.=551.25−500=51.25

2. A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate on interest per annum is.

  • 4%
  • 5%
  • 6%
  • 7%

Answer: Option B

Explanation:

S.I. on Rs 800 for 1 year = 40

Rate = (100*40)/(800*1) = 5%

3. Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually

  • Rs 312
  • Rs 412
  • Rs 512
  • Rs 612

Answer: Option D

Explanation:

Please apply the formula

Amount=P(1+R100)nC.I. = Amount - P

4. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is

  • 4 years
  • 5 years
  • 6 years
  • 7 years

Answer: Option A

Explanation:

As per question we need something like following

P(1+R100)n>2P(1+20100)n>2(65)n>265×65×65×65>2



So answer is 4 years

5. Albert invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.

  • Rs. 8510
  • Rs. 8620
  • Rs. 8730
  • Rs. 8820

Answer: Option D

Explanation:

=>(8000×(1+5100)2)=>8000×2120×2120=>8820


Read more from - Compound Interest Questions Answers
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