In how many years will a sum of Rs. 5000 become Rs. 6655 at 10% per annum compound interest? MCQ with Answer and Explanation

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In how many years will a sum of Rs. 5000 become Rs. 6655 at 10% per annum compound interest?

A. 5 years

B. 3 years

C. 2 years

D. 4 years

Answer: Option B

Solution (By JKSSB Mock Tests)

5000 × (1.1)^n = 6655 ⇒ (1.1)^n = 1.331 = (1.1)³ ⇒ n = 3 years.

This question belongs to: Maths Compound Interest

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Question #1

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What is the principal if the amount after 2 years at 10% compound interest is Rs. 12100?

A. Rs. 13000

B. Rs. 10000

C. Rs. 11000

D. Rs. 12000

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Correct Answer: Option B

Explanation:
P = 12100 / (1.1)² = 12100 / 1.21 = 10000.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 5000 at 8% per annum for 1 year compounded half-yearly is:

A. Rs. 408

B. Rs. 412

C. Rs. 416

D. Rs. 400

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Correct Answer: Option A

Explanation:
Rate per half-year = 4%, n = 2. A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.

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Question #3

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 36. Find the sum.

A. Rs. 12000

B. Rs. 11000

C. Rs. 9000

D. Rs. 10000

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Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 36 = P * (6/100)^2 => 36 = P * (36 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

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