What sum will amount to Rs. 10816 in 2 years at 4% compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 10816 in 2 years at 4% compound interest?

A. Rs. 9800

B. Rs. 10400

C. Rs. 10000

D. Rs. 10200

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money invested at compound interest doubles itself in 10 years. In how many years will it become 4 times of itself?

A. 15 years

B. 30 years

C. 25 years

D. 20 years

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Correct Answer: Option D

Explanation:
The sum doubles (2^1) in 10 years. It will become 4 (2^2) times in 2 * 10 = 20 years.

This question belongs to: Maths Compound Interest

Question #2

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What is the compound interest on Rs. 20000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 2472

B. Rs. 2500

C. Rs. 2600

D. Rs. 2400

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Correct Answer: Option A

Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 20000 * (1 + 6/100)^2 = 20000 * 1.1236 = Rs. 22472. Compound Interest = 22472 - 20000 = Rs. 2472.

This question belongs to: Maths Compound Interest

Question #3

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At what rate of compound interest will Rs. 12800 amount to Rs. 15488 in 2 years?

A. 12%

B. 10%

C. 8%

D. 15%

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Correct Answer: Option B

Explanation:
12800(1+r)² = 15488 ⇒ (1+r)² = 1.21 = (1.1)² ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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