A certain sum amounts to Rs. 2205 in 2 years at 5% compound interest. The sum is: MCQ with Answer and Explanation

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A certain sum amounts to Rs. 2205 in 2 years at 5% compound interest. The sum is:

A. Rs. 1900

B. Rs. 2100

C. Rs. 2000

D. Rs. 2150

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 2205 / (1.05)² = 2205 / 1.1025 = 2000.

This question belongs to: Maths Compound Interest

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Question #1

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What is the effective rate of interest corresponding to 12% per annum compounded half-yearly?

A. 12.36%

B. 12.25%

C. 12.60%

D. 12.50%

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Correct Answer: Option A

Explanation:
Effective rate = (1.06)² − 1 = 1.1236 − 1 = 12.36%.

This question belongs to: Maths Compound Interest

Question #2

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What is the principal if the compound interest on it for 2 years at 10% is Rs. 1050?

A. Rs. 6000

B. Rs. 5000

C. Rs. 5500

D. Rs. 4500

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Correct Answer: Option B

Explanation:
CI = P × 0.21 = 1050 ⇒ P = 1050 / 0.21 = 5000.

This question belongs to: Maths Compound Interest

Question #3

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What is the compound interest on Rs. 30000 for 1 year at 10% per annum, compounded half-yearly?

A. Rs. 3075

B. Rs. 3150

C. Rs. 3000

D. Rs. 3100

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Correct Answer: Option A

Explanation:
Half-yearly rate = 10/2 = 5%. Time = 2 half-years. Amount = 30000 * (1 + 5/100)^2 = 30000 * 1.1225 = Rs. 33075. Compound Interest = 33075 - 30000 = Rs. 3075.

This question belongs to: Maths Compound Interest

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