What sum will amount to Rs. 1331 in 3 years at 10% compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 1331 in 3 years at 10% compound interest?

A. Rs. 1200

B. Rs. 900

C. Rs. 1000

D. Rs. 1100

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

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Question #1

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In how many years will Rs. 1000 amount to Rs. 1157.625 at 5% per annum compound interest?

A. 2 years

B. 2.5 years

C. 3.5 years

D. 3 years

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Correct Answer: Option D

Explanation:
1000(1.05)^t = 1157.625 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money amounts to Rs. 12960 in 2 years and Rs. 15552 in 3 years at compound interest. Find the sum.

A. Rs. 8500

B. Rs. 9500

C. Rs. 8000

D. Rs. 9000

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Correct Answer: Option D

Explanation:
Rate = (15552/12960 − 1) × 100 = 20%. P = 12960 / 1.44 = 9000.

This question belongs to: Maths Compound Interest

Question #3

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At what rate of compound interest will Rs. 2000 amount to Rs. 2205 in 2 years?

A. 4%

B. 5%

C. 6%

D. 7%

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Correct Answer: Option B

Explanation:
2000(1+r)² = 2205 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

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