What is the principal if the amount after 3 years at 5% compound interest is Rs. 2315.25? MCQ with Answer and Explanation

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What is the principal if the amount after 3 years at 5% compound interest is Rs. 2315.25?

A. Rs. 1900

B. Rs. 2000

C. Rs. 2200

D. Rs. 2100

Answer: Option B

Solution (By JKSSB Mock Tests)

P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.

This question belongs to: Maths Compound Interest

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Question #1

The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is:

A. Rs. 4200

B. Rs. 4400

C. Rs. 3800

D. Rs. 4000

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Correct Answer: Option D

Explanation:
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.

This question belongs to: Maths Compound Interest

Question #2

The effective rate of interest for 10% per annum compounded half-yearly is:

A. 10.10%

B. 10.25%

C. 10.75%

D. 10.50%

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Correct Answer: Option B

Explanation:
Effective rate = (1.05)² − 1 = 1.1025 − 1 = 0.1025 = 10.25%.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on Rs. 15000 at 10% per annum compounded half-yearly for 1 year is:

A. Rs. 1500

B. Rs. 1600

C. Rs. 1537.50

D. Rs. 1575

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Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=2. A = 15000 × (1.05)² = 15000 × 1.1025 = 16537.50, CI = 16537.50 − 15000 = Rs. 1537.50.

This question belongs to: Maths Compound Interest

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