A sum of money becomes Rs. 11025 in 2 years at 5% compound interest. The sum is: MCQ with Answer and Explanation

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A sum of money becomes Rs. 11025 in 2 years at 5% compound interest. The sum is:

A. Rs. 10000

B. Rs. 9500

C. Rs. 11000

D. Rs. 10500

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 8400 for 2 years at 5% is:

A. Rs. 18

B. Rs. 20

C. Rs. 21

D. Rs. 19

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Correct Answer: Option C

Explanation:
D = 8400 × 0.0025 = Rs. 21.

This question belongs to: Maths Compound Interest

Question #2

A sum of money at compound interest doubles in 12 years. In how many years will it become 64 times?

A. 60 years

B. 72 years

C. 84 years

D. 48 years

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Correct Answer: Option B

Explanation:
64 = 2⁶, so 12 × 6 = 72 years.

This question belongs to: Maths Compound Interest

Question #3

At what rate percent per annum will Rs. 5000 amount to Rs. 5618 in 2 years at compound interest?

A. 6%

B. 8%

C. 5%

D. 7%

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Correct Answer: Option A

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest

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