A sum of money at compound interest amounts to Rs. 18150 in 2 years and Rs. 19965 in 3 years. Find the sum. MCQ with Answer and Explanation

Question

Share Report Error

A sum of money at compound interest amounts to Rs. 18150 in 2 years and Rs. 19965 in 3 years. Find the sum.

A. Rs. 14000

B. Rs. 16000

C. Rs. 17000

D. Rs. 15000

Answer: Option D

Solution (By JKSSB Mock Tests)

Rate = (19965/18150 − 1) × 100 = 10%. P = 18150 / 1.21 = 15000.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

At what rate percent compound interest will Rs. 1000 become Rs. 1728 in 3 years?

A. 18%

B. 25%

C. 15%

D. 20%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
1000(1+r)³ = 1728 ⇒ (1+r)³ = 1.728 = (1.2)³ ⇒ r = 20%.

This question belongs to: Maths Compound Interest

Question #2

Share Report

In what time will Rs. 5000 amount to Rs. 6050 at 10% per annum compound interest?

A. 3 years

B. 4 years

C. 2 years

D. 1 year

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
5000(1.1)^t = 6050 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The compound interest on Rs. 4400 at 10% per annum for 2 years is:

A. Rs. 924

B. Rs. 880

C. Rs. 1012

D. Rs. 968

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
A = 4400 × 1.21 = 5324, CI = 5324 − 4400 = Rs. 924.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs