A sum becomes Rs. 10816 in 2 years at 4% compound interest. Find the sum. MCQ with Answer and Explanation

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A sum becomes Rs. 10816 in 2 years at 4% compound interest. Find the sum.

A. Rs. 10000

B. Rs. 11000

C. Rs. 9500

D. Rs. 10500

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The compound interest on a sum for 2 years at 12% is Rs. 381.60. The sum is:

A. Rs. 1400

B. Rs. 1500

C. Rs. 1700

D. Rs. 1600

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Correct Answer: Option B

Explanation:
CI = P × 0.2544 = 381.60 ⇒ P = 1500.

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. 1230. Find the principal sum.

A. Rs. 12000

B. Rs. 11500

C. Rs. 13000

D. Rs. 12500

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Correct Answer: Option A

Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 1230 => P = 1230 / 0.1025 = Rs. 12000.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on a sum for 1 year at 10% compounded half-yearly is Rs. 102.50. The sum is:

A. Rs. 950

B. Rs. 1050

C. Rs. 1000

D. Rs. 1100

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Correct Answer: Option C

Explanation:
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.

This question belongs to: Maths Compound Interest

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