The compound interest on a sum for 2 years at 10% is Rs. 1260. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 10% is Rs. 1260. The sum is:

A. Rs. 6500

B. Rs. 5500

C. Rs. 6000

D. Rs. 7000

Answer: Option C

Solution (By JKSSB Mock Tests)

CI = P × 0.21 = 1260 ⇒ P = 1260 / 0.21 = 6000.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on a certain sum for 2 years at 4% per annum is Rs. 408. Find the principal sum.

A. Rs. 5400

B. Rs. 5200

C. Rs. 4800

D. Rs. 5000

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Correct Answer: Option D

Explanation:
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Given 8.16% of P = 408 => P = 408 / 0.0816 = Rs. 5000.

This question belongs to: Maths Compound Interest

Question #2

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What sum will amount to Rs. 2315.25 in 3 years at 5% compound interest?

A. Rs. 2100

B. Rs. 1900

C. Rs. 2000

D. Rs. 1800

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Correct Answer: Option C

Explanation:
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.

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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. 144. Find the sum.

A. Rs. 48000

B. Rs. 40000

C. Rs. 36000

D. Rs. 44000

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Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 144 = P * (6/100)^2 => 144 = P * (36 / 10000) => P = (144 * 10000) / 36 = Rs. 40000.

This question belongs to: Maths Compound Interest

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