A sum amounts to Rs. 1210 in 2 years and Rs. 1331 in 3 years at compound interest. Find the sum. MCQ with Answer and Explanation

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A sum amounts to Rs. 1210 in 2 years and Rs. 1331 in 3 years at compound interest. Find the sum.

A. Rs. 950

B. Rs. 1000

C. Rs. 900

D. Rs. 1050

Answer: Option B

Solution (By JKSSB Mock Tests)

Rate = (1331/1210 − 1) × 100 = 10%. P = 1210 / (1.1)² = 1210 / 1.21 = 1000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

What sum will amount to Rs. 14520 in 2 years at 10% compound interest?

A. Rs. 12500

B. Rs. 11000

C. Rs. 11500

D. Rs. 12000

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Correct Answer: Option D

Explanation:
P = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

Question #2

The compound interest on a certain sum for 2 years at 5% per annum is Rs. 410. Find the principal sum.

A. Rs. 3800

B. Rs. 4200

C. Rs. 4400

D. Rs. 4000

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Correct Answer: Option D

Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 410 => P = 410 / 0.1025 = Rs. 4000.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 1800 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 190

B. Rs. 189

C. Rs. 180

D. Rs. 184.50

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Correct Answer: Option D

Explanation:
Half-yearly rate 5%, n=2. A = 1800 × (1.05)² = 1800 × 1.1025 = 1984.50, CI = 1984.50 − 1800 = Rs. 184.50.

This question belongs to: Maths Compound Interest

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