What sum will amount to Rs. 11664 in 2 years at 8% compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 11664 in 2 years at 8% compound interest?

A. Rs. 9500

B. Rs. 10500

C. Rs. 10000

D. Rs. 11000

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 11664 / (1.08)² = 11664 / 1.1664 = 10000.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 8% is Rs. 320. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 358.40

B. Rs. 332.80

C. Rs. 345.60

D. Rs. 371.20

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Correct Answer: Option B

Explanation:
P = 32000/(8×2) = 2000. CI = 2000 × 0.1664 = 332.80.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 2 years at 12% is Rs. 381.60. The sum is:

A. Rs. 1700

B. Rs. 1500

C. Rs. 1600

D. Rs. 1400

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Correct Answer: Option B

Explanation:
CI = P × 0.2544 = 381.60 ⇒ P = 1500.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on a certain sum for 2 years at 4% per annum is Rs. 1632. Find the principal sum.

A. Rs. 22000

B. Rs. 18000

C. Rs. 20000

D. Rs. 24000

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Correct Answer: Option C

Explanation:
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Given 8.16% of P = 1632 => P = 1632 / 0.0816 = Rs. 20000.

This question belongs to: Maths Compound Interest

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