A sum of money at compound interest amounts to Rs. 10648 in 3 years and Rs. 11712.80 in 4 years. Find the sum. MCQ with Answer and Explanation

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A sum of money at compound interest amounts to Rs. 10648 in 3 years and Rs. 11712.80 in 4 years. Find the sum.

A. Rs. 7000

B. Rs. 7500

C. Rs. 8000

D. Rs. 8500

Answer: Option C

Solution (By JKSSB Mock Tests)

Rate = (11712.80/10648 − 1) × 100 = 10%. P = 10648 / 1.331 = 8000.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 1000 for 3 years at 10% per annum is:

A. Rs. 310

B. Rs. 320

C. Rs. 331

D. Rs. 340

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Correct Answer: Option C

Explanation:
A = 1000 × (1.1)³ = 1000 × 1.331 = 1331, CI = 1331 − 1000 = Rs. 331.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 3 years at 5% is Rs. 788.125. The sum is:

A. Rs. 6000

B. Rs. 5000

C. Rs. 5500

D. Rs. 4500

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Correct Answer: Option B

Explanation:
CI = P[(1.05)³ − 1] = P × 0.157625 = 788.125 ⇒ P = 788.125 / 0.157625 = 5000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest doubles in 6 years. In how many years will it become 4 times?

A. 18 years

B. 9 years

C. 12 years

D. 10 years

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Correct Answer: Option C

Explanation:
Doubles in 6 years, 4 = 2², so 6 × 2 = 12 years.

This question belongs to: Maths Compound Interest

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