A sum of money amounts to Rs. 11025 in 2 years and Rs. 11576.25 in 3 years at compound interest. Find the sum. MCQ with Answer and Explanation

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A sum of money amounts to Rs. 11025 in 2 years and Rs. 11576.25 in 3 years at compound interest. Find the sum.

A. Rs. 9500

B. Rs. 9000

C. Rs. 10000

D. Rs. 10500

Answer: Option C

Solution (By JKSSB Mock Tests)

Rate = (11576.25/11025 − 1) × 100 = 5%. P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

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Question #1

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Find the compound interest on Rs. 16800 at 10% per annum for 2 years.

A. Rs. 3864

B. Rs. 3696

C. Rs. 3528

D. Rs. 3360

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Correct Answer: Option C

Explanation:
A = 16800 × 1.21 = 20328, CI = 20328 − 16800 = Rs. 3528.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is:

A. Rs. 35

B. Rs. 30

C. Rs. 25

D. Rs. 20

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Correct Answer: Option C

Explanation:
6.25% = 1/16. D = P × (R/100)² = 6400 × (1/16)² = 6400 × 1/256 = Rs. 25.

This question belongs to: Maths Compound Interest

Question #3

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At what rate percent per annum compound interest will Rs. 400 amount to Rs. 484 in 2 years?

A. 15%

B. 10%

C. 8%

D. 12%

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Correct Answer: Option B

Explanation:
400(1 + r)² = 484 ⇒ (1+r)² = 1.21 ⇒ 1+r = 1.1 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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