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

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

A. Rs. 10000

B. Rs. 8000

C. Rs. 9000

D. Rs. 11000

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 compound interest on a sum for 2 years at 4% is Rs. 408. The sum is:

A. Rs. 5400

B. Rs. 4800

C. Rs. 5200

D. Rs. 5000

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Correct Answer: Option D

Explanation:
CI = P[(1.04)² − 1] = P × 0.0816 = 408 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

Question #2

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The simple interest on a sum at 5% for 3 years is Rs. 600. The compound interest on the same sum for 2 years at 5% is:

A. Rs. 410

B. Rs. 405

C. Rs. 400

D. Rs. 415

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Correct Answer: Option A

Explanation:
P = 60000/(5×3) = 4000. CI = 4000[(1.05)² − 1] = 4000 × 0.1025 = Rs. 410.

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum.

A. Rs. 15000

B. Rs. 14000

C. Rs. 17000

D. Rs. 16000

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Correct Answer: Option D

Explanation:
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.

This question belongs to: Maths Compound Interest

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