A sum of money at compound interest amounts to Rs. 14520 in 2 years and to Rs. 15972 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. 14520 in 2 years and to Rs. 15972 in 3 years. Find the sum.

A. Rs. 12000

B. Rs. 14000

C. Rs. 13000

D. Rs. 10000

Answer: Option A

Solution (By JKSSB Mock Tests)

Rate = (15972/14520 − 1) × 100 = 10%. P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

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. 5000

C. Rs. 5200

D. Rs. 4800

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Correct Answer: Option B

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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A sum of money at compound interest doubles in 15 years. In how many years will it become 128 times?

A. 105 years

B. 75 years

C. 90 years

D. 120 years

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Correct Answer: Option A

Explanation:
128 = 2⁷, so 15 × 7 = 105 years.

This question belongs to: Maths Compound Interest

Question #3

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What is the effective rate of interest corresponding to 12% per annum compounded half-yearly?

A. 12.36%

B. 12.50%

C. 12.60%

D. 12.25%

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Correct Answer: Option A

Explanation:
Effective rate = (1.06)² − 1 = 1.1236 − 1 = 12.36%.

This question belongs to: Maths Compound Interest

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