The present population of a town is 44100. If it increases at 5% per annum, what was the population 2 years ago? MCQ with Answer and Explanation

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The present population of a town is 44100. If it increases at 5% per annum, what was the population 2 years ago?

A. 41000

B. 42000

C. 40000

D. 43000

Answer: Option C

Solution (By JKSSB Mock Tests)

Population 2 years ago = 44100 / (1.05)² = 44100 / 1.1025 = 40000.

This question belongs to: Maths Compound Interest

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Question #1

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Find the compound interest on Rs. 31250 for 3 years at 8% per annum, compounded annually.

A. Rs. 7500

B. Rs. 8000

C. Rs. 7824

D. Rs. 8076

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Correct Answer: Option C

Explanation:
Amount = 31250 * (1 + 8/100)^3 = 31250 * (27/25)^3 = 31250 * (19683 / 15625) = 2 * 19683 = Rs. 39366. Compound Interest = 39366 - 31250 = Rs. 8076. Correct option is D.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes Rs. 7396 in 2 years and Rs. 7950.70 in 3 years. Find the sum.

A. Rs. 6500

B. Rs. 6000

C. Rs. 6400

D. Rs. 6250

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Correct Answer: Option C

Explanation:
Rate = (7950.70/7396 - 1)*100 = 7.5%? 7950.70/7396 = 1.075, so 7.5%. P = 7396 / (1.075)² = 7396 / 1.155625 = 6400 exactly. Check: 1.075^2 = 1.155625, 6400*1.155625 = 7396. So answer 6400.

This question belongs to: Maths Compound Interest