What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest?

A. Rs. 12000

B. Rs. 11000

C. Rs. 14000

D. Rs. 13000

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 25000 for 2 years at 4% is:

A. Rs. 36

B. Rs. 40

C. Rs. 44

D. Rs. 48

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Correct Answer: Option B

Explanation:
D = 25000 × (0.04)² = 25000 × 0.0016 = Rs. 40.

This question belongs to: Maths Compound Interest

Question #2

A sum of money invested at compound interest doubles itself in 13 years. In how many years will it become 4 times of itself?

A. 39 years

B. 32 years

C. 26 years

D. 19 years

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Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 13 years. It will become 4 (2^2) times in 2 * 13 = 26 years.

This question belongs to: Maths Compound Interest

Question #3

The difference between simple interest and compound interest on a certain sum of money for 2 years at 8% per annum is Rs. 64. Find the sum.

A. Rs. 10000

B. Rs. 9000

C. Rs. 12000

D. Rs. 11000

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Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (8/100)^2 => 64 = P * (64 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

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