The compound interest on a sum for 2 years at 10% is Rs. 420. 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. 420. The sum is:

A. Rs. 1800

B. Rs. 2100

C. Rs. 1900

D. Rs. 2000

Answer: Option D

Solution (By JKSSB Mock Tests)

CI = P[(1.1)² − 1] = 0.21P = 420 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 343 times?

A. 7 years

B. 9 years

C. 8 years

D. 6 years

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Correct Answer: Option B

Explanation:
343 = 7³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Question #2

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What sum will amount to Rs. 11576.25 in 2 years at 5% per annum compound interest?

A. Rs. 10000

B. Rs. 10500

C. Rs. 10750

D. Rs. 10250

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Correct Answer: Option B

Explanation:
P = 11576.25 / 1.1025 = 10500.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 40000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 5100.00

B. Rs. 5210.50

C. Rs. 5020.34

D. Rs. 4800.00

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Correct Answer: Option C

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 40000 * (1 + 3/100)^4 = 40000 * (1.03)^4 = 40000 * 1.12550881 = Rs. 45020.35. Compound Interest = 45020.35 - 40000 = Rs. 5020.35. Correct option matches B layout metrics.

This question belongs to: Maths Compound Interest

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