A sum of money amounts to Rs. 12960 in 2 years and Rs. 15552 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. 12960 in 2 years and Rs. 15552 in 3 years at compound interest. Find the sum.

A. Rs. 8000

B. Rs. 8500

C. Rs. 9000

D. Rs. 9500

Answer: Option C

Solution (By JKSSB Mock Tests)

Rate = (15552/12960 − 1) × 100 = 20%. P = 12960 / 1.44 = 9000.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between compound interest and simple interest on a sum for 2 years at 5% per annum is Rs. 25. The sum is:

A. Rs. 15000

B. Rs. 8000

C. Rs. 10000

D. Rs. 12000

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Correct Answer: Option C

Explanation:
Difference = P × (r/100)² ⇒ 25 = P × 0.0025 ⇒ P = 10000.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 3500 at 8% per annum for 2 years is:

A. Rs. 576.40

B. Rs. 592.00

C. Rs. 582.40

D. Rs. 588.00

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Correct Answer: Option C

Explanation:
A = 3500 × (1.08)² = 3500 × 1.1664 = 4082.40, CI = 4082.40 − 3500 = Rs. 582.40.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

A. 8 years

B. 9 years

C. 6 years

D. 12 years

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Correct Answer: Option C

Explanation:
The sum becomes 3 times in 3 years. It will become 3^2 = 9 times in 2 * 3 = 6 years.

This question belongs to: Maths Compound Interest

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