The compound interest on a certain sum for 2 years at 10% per annum is Rs. 441. Find the principal sum. MCQ with Answer and Explanation

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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 441. Find the principal sum.

A. Rs. 2000

B. Rs. 2300

C. Rs. 2100

D. Rs. 2200

Answer: Option C

Solution (By JKSSB Mock Tests)

Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 441 => P = 441 / 0.21 = Rs. 2100.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on a sum for 2 years at 12% is Rs. 72. The sum is:

A. Rs. 6000

B. Rs. 5500

C. Rs. 4500

D. Rs. 5000

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Correct Answer: Option D

Explanation:
D = P × (0.12)² = P × 0.0144 = 72 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest amounts to Rs. 10648 in 3 years and Rs. 11712.80 in 4 years. Find the sum.

A. Rs. 7500

B. Rs. 8000

C. Rs. 7000

D. Rs. 8500

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Correct Answer: Option B

Explanation:
Rate = (11712.80/10648 − 1) × 100 = 10%. P = 10648 / 1.331 = 8000.

This question belongs to: Maths Compound Interest

Question #3

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At what rate percent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest?

A. 4.34%

B. 4.16%

C. 4.5%

D. 4%

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Correct Answer: Option D

Explanation:
Amount/Principal = 2500 / 2304 = (50 / 48)^2 = (25 / 24)^2. Thus, 1 + R/100 = 25/24 => R/100 = 1/24 => R = 100/24 = 4.16%. Correct option is B.

This question belongs to: Maths Compound Interest

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