The compound interest on a sum for 2 years at 8% per annum is Rs. 332.80. Find the sum. MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 8% per annum is Rs. 332.80. Find the sum.

A. Rs. 2000

B. Rs. 1900

C. Rs. 2200

D. Rs. 2100

Answer: Option A

Solution (By JKSSB Mock Tests)

CI = P[(1.08)² − 1] = P × 0.1664 = 332.80 ⇒ P = 332.80 / 0.1664 = 2000.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 12000 for 1 year at 10% per annum compounded half-yearly is:

A. Rs. 1290

B. Rs. 1200

C. Rs. 1230

D. Rs. 1260

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Correct Answer: Option C

Explanation:
Half-yearly rate = 5%, periods = 2. A = 12000 × (1.05)² = 12000 × 1.1025 = 13230, CI = 13230 − 12000 = Rs. 1230.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent compound interest will Rs. 10000 amount to Rs. 12100 in 2 years?

A. 8%

B. 15%

C. 10%

D. 12%

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Correct Answer: Option C

Explanation:
10000(1+r)² = 12100 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #3

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum.

A. Rs. 40000

B. Rs. 36000

C. Rs. 48000

D. Rs. 44000

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Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.

This question belongs to: Maths Compound Interest

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