The population of a town increases by 10% per annum. If the present population is 6050, what was it 2 years ago? MCQ with Answer and Explanation

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The population of a town increases by 10% per annum. If the present population is 6050, what was it 2 years ago?

A. 5500

B. 5800

C. 6000

D. 5000

Answer: Option D

Solution (By JKSSB Mock Tests)

Population 2 years ago = 6050 / (1.1)² = 6050 / 1.21 = 5000.

This question belongs to: Maths Compound Interest

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Question #1

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The effective annual rate for 12% per annum compounded half-yearly is:

A. 12.60%

B. 12.50%

C. 12.36%

D. 12.25%

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Correct Answer: Option C

Explanation:
Effective = (1.06)² − 1 = 1.1236 − 1 = 12.36%.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 2 years at 10% is Rs. 1260. The sum is:

A. Rs. 5500

B. Rs. 6500

C. Rs. 6000

D. Rs. 7000

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Correct Answer: Option C

Explanation:
CI = P × 0.21 = 1260 ⇒ P = 1260 / 0.21 = 6000.

This question belongs to: Maths Compound Interest

Question #3

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In how many years will Rs. 6000 amount to Rs. 7260 at 10% per annum compound interest?

A. 2.5 years

B. 3 years

C. 1.5 years

D. 2 years

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Correct Answer: Option D

Explanation:
6000(1.1)^t = 7260 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

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