The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is:

A. Rs. 2400

B. Rs. 2000

C. Rs. 2200

D. Rs. 1800

Answer: Option B

Solution (By JKSSB Mock Tests)

CI = P × 0.1881 = 376.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The compound interest on Rs. 900 at 10% per annum for 2 years is:

A. Rs. 189

B. Rs. 207

C. Rs. 198

D. Rs. 180

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Correct Answer: Option A

Explanation:
A = 900 × (1.1)² = 900 × 1.21 = 1089, CI = 1089 − 900 = Rs. 189.

This question belongs to: Maths Compound Interest

Question #2

Find the compound interest on Rs. 5600 at 5% per annum for 2 years.

A. Rs. 574

B. Rs. 600

C. Rs. 560

D. Rs. 588

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Correct Answer: Option A

Explanation:
A = 5600 × 1.1025 = 6174, CI = 6174 − 5600 = Rs. 574.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 900

B. Rs. 1000

C. Rs. 1050

D. Rs. 950

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Correct Answer: Option B

Explanation:
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

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