What sum will amount to Rs. 10584 in 2 years at 5% compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9200

B. Rs. 9400

C. Rs. 9600

D. Rs. 9800

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 7200 for 2 years at 10% is:

A. Rs. 60

B. Rs. 68

C. Rs. 72

D. Rs. 80

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Correct Answer: Option C

Explanation:
D = 7200 × 0.01 = Rs. 72.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 3900 at 10% per annum for 2 years is:

A. Rs. 780

B. Rs. 819

C. Rs. 897

D. Rs. 858

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Correct Answer: Option B

Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest becomes 3 times in 4 years. In how many years will it become 9 times?

A. 12 years

B. 6 years

C. 10 years

D. 8 years

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Correct Answer: Option D

Explanation:
3 times in 4 years, 9=3² ⇒ 4×2=8 years.

This question belongs to: Maths Compound Interest

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