The compound interest on a sum for 2 years at 5% is Rs. 102.50. Find the sum. MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 5% is Rs. 102.50. Find the sum.

A. Rs. 1100

B. Rs. 950

C. Rs. 1000

D. Rs. 1050

Answer: Option C

Solution (By JKSSB Mock Tests)

CI = P × 0.1025 = 102.50 ⇒ P = 1000.

This question belongs to: Maths Compound Interest

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Question #1

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What is the compound interest on Rs. 60000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 7500

B. Rs. 7600

C. Rs. 7416

D. Rs. 7200

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Correct Answer: Option C

Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.

This question belongs to: Maths Compound Interest

Question #2

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Find the compound interest on Rs. 16800 at 10% per annum for 2 years.

A. Rs. 3864

B. Rs. 3360

C. Rs. 3696

D. Rs. 3528

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Correct Answer: Option D

Explanation:
A = 16800 × 1.21 = 20328, CI = 20328 − 16800 = Rs. 3528.

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Question #3

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The compound interest on a sum for 3 years at 5% is Rs. 788.125. The sum is:

A. Rs. 6000

B. Rs. 5500

C. Rs. 5000

D. Rs. 4500

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Correct Answer: Option C

Explanation:
CI = P[(1.05)³ − 1] = P × 0.157625 = 788.125 ⇒ P = 788.125 / 0.157625 = 5000.

This question belongs to: Maths Compound Interest

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