A sum amounts to Rs. 2662 in 3 years at 10% compound interest. The sum is: MCQ with Answer and Explanation

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A sum amounts to Rs. 2662 in 3 years at 10% compound interest. The sum is:

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Rs. 1800

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 2662 / (1.1)³ = 2662 / 1.331 = 2000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 5600 for 2 years at 5% is:

A. Rs. 12

B. Rs. 14

C. Rs. 16

D. Rs. 18

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Correct Answer: Option B

Explanation:
D = 5600 × 0.0025 = Rs. 14.

This question belongs to: Maths Compound Interest

Question #2

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

A. Rs. 650

B. Rs. 630

C. Rs. 636

D. Rs. 640

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Correct Answer: Option C

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

This question belongs to: Maths Compound Interest

Question #3

A sum becomes Rs. 6615 in 2 years and Rs. 6945.75 in 3 years at compound interest. Find the sum.

A. Rs. 5800

B. Rs. 6000

C. Rs. 6200

D. Rs. 6400

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Correct Answer: Option B

Explanation:
Rate = (6945.75/6615 − 1) × 100 = 5%. P = 6615 / (1.05)² = 6615 / 1.1025 = 6000.

This question belongs to: Maths Compound Interest

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