What sum will amount to Rs. 8820 in 2 years at 5% compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 8820 in 2 years at 5% compound interest?

A. Rs. 8000

B. Rs. 8400

C. Rs. 8200

D. Rs. 7800

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 8820 / 1.1025 = 8000.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 1900 at 10% per annum for 2 years is:

A. Rs. 380

B. Rs. 399

C. Rs. 418

D. Rs. 437

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Correct Answer: Option B

Explanation:
A = 1900 × 1.21 = 2299, CI = 2299 − 1900 = Rs. 399.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 6000 for 2 years at 5% is:

A. Rs. 18

B. Rs. 15

C. Rs. 20

D. Rs. 12

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Correct Answer: Option B

Explanation:
D = 6000 × (0.05)² = 6000 × 0.0025 = Rs. 15.

This question belongs to: Maths Compound Interest

Question #3

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What sum will amount to Rs. 7986 in 3 years at 10% compound interest?

A. Rs. 5500

B. Rs. 6200

C. Rs. 6000

D. Rs. 5800

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Correct Answer: Option C

Explanation:
P = 7986 / 1.331 = 6000.

This question belongs to: Maths Compound Interest

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