The compound interest on a sum for 2 years at 12% is Rs. 636. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 12% is Rs. 636. The sum is:

A. Rs. 2400

B. Rs. 2000

C. Rs. 2500

D. Rs. 2600

Answer: Option C

Solution (By JKSSB Mock Tests)

CI = P[(1.12)² − 1] = P × 0.2544 = 636 ⇒ P = 636/0.2544 = 2500.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money amounts to Rs. 4840 in 2 years and to Rs. 5324 in 3 years at compound interest compounded annually. Find the principal sum.

A. Rs. 4000

B. Rs. 4200

C. Rs. 3600

D. Rs. 4400

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Correct Answer: Option A

Explanation:
Rate of interest = ((5324 - 4840) / 4840) * 100 = (484 / 4840) * 100 = 10%. Principal P = 4840 / (1 + 10/100)^2 = 4840 / 1.21 = Rs. 4000.

This question belongs to: Maths Compound Interest

Question #2

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The population of a city increases at the rate of 5% annually. If the present population is 185220, what was its population 3 years ago?

A. 150000

B. 170000

C. 180000

D. 160000

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Correct Answer: Option D

Explanation:
Population 3 years ago = 185220 / (1 + 5/100)^3 = 185220 / (21/20)^3 = 185220 * 8000 / 9261 = 20 * 8000 = 160000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 64 times?

A. 6 years

B. 5 years

C. 9 years

D. 4 years

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Correct Answer: Option A

Explanation:
8 times in 3 years, 64 = 8² ⇒ 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

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