Find the principal if the compound interest on it for 2 years at 10% per annum is Rs. 525. MCQ with Answer and Explanation

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Find the principal if the compound interest on it for 2 years at 10% per annum is Rs. 525.

A. Rs. 2500

B. Rs. 2400

C. Rs. 2600

D. Rs. 2700

Answer: Option A

Solution (By JKSSB Mock Tests)

CI = P[(1.1)² − 1] = P × 0.21 = 525 ⇒ P = 525/0.21 = Rs. 2500.

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. 1300 for 2 years at 10% is:

A. Rs. 15

B. Rs. 14

C. Rs. 13

D. Rs. 12

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Correct Answer: Option C

Explanation:
D = 1300 × 0.01 = Rs. 13.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is:

A. Rs. 14000

B. Rs. 15000

C. Rs. 12000

D. Rs. 13000

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Correct Answer: Option B

Explanation:
D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest

Question #3

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

A. 9 years

B. 18 years

C. 12 years

D. 15 years

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Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 6 years. It will become 4 (2^2) times in 2 * 6 = 12 years.

This question belongs to: Maths Compound Interest

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