What sum will amount to Rs. 9261 in 2 years at 5% per annum compound interest? MCQ with Answer and Explanation

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What sum will amount to Rs. 9261 in 2 years at 5% per annum compound interest?

A. Rs. 8400

B. Rs. 8200

C. Rs. 8000

D. Rs. 8600

Answer: Option A

Solution (By JKSSB Mock Tests)

P = 9261 / 1.1025 = 8400.

This question belongs to: Maths Compound Interest

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Question #1

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What is the effective annual rate of interest corresponding to a nominal rate of 6% per annum compounded half-yearly?

A. 6.06%

B. 6.15%

C. 6.09%

D. 6.12%

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Correct Answer: Option C

Explanation:
Effective rate = (1 + 0.03)² − 1 = 1.0609 − 1 = 0.0609 = 6.09%.

This question belongs to: Maths Compound Interest

Question #2

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Find the compound interest on Rs. 1500 at 10% per annum for 2 years.

A. Rs. 310

B. Rs. 330

C. Rs. 315

D. Rs. 300

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Correct Answer: Option C

Explanation:
A = 1500 × (1.1)² = 1500 × 1.21 = 1815, CI = 1815 − 1500 = Rs. 315.

This question belongs to: Maths Compound Interest

Question #3

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The present population of a town is 44100. If it increases at 5% per annum, what was the population 2 years ago?

A. 43000

B. 42000

C. 41000

D. 40000

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Correct Answer: Option D

Explanation:
Population 2 years ago = 44100 / (1.05)² = 44100 / 1.1025 = 40000.

This question belongs to: Maths Compound Interest

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