The compound interest on a certain sum for 2 years at 10% per annum is Rs. 840. 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. 840. Find the principal sum.

A. Rs. 4000

B. Rs. 4200

C. Rs. 4400

D. Rs. 3800

Answer: Option A

Solution (By JKSSB Mock Tests)

Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 840 => P = 840 / 0.21 = Rs. 4000.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest doubles itself in 5 years. In how many years will it become 8 times?

A. 15 years

B. 25 years

C. 20 years

D. 10 years

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Correct Answer: Option A

Explanation:
Doubles in 5 years; 8 = 2³, so time = 5 × 3 = 15 years.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money invested at compound interest doubles itself in 9 years. In how many years will it become 8 times of itself?

A. 27 years

B. 18 years

C. 45 years

D. 36 years

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Correct Answer: Option A

Explanation:
The sum doubles (2^1) in 9 years. It will become 8 (2^3) times in 3 * 9 = 27 years.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money invested at compound interest doubles itself in 19 years. In how many years will it become 4 times of itself?

A. 28 years

B. 58 years

C. 48 years

D. 38 years

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Correct Answer: Option D

Explanation:
The sum doubles (2^1) in 19 years. It will become 4 (2^2) times in 2 * 19 = 38 years.

This question belongs to: Maths Compound Interest

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