What sum will produce Rs. 410 as compound interest in 2 years at 5% per annum? MCQ with Answer and Explanation

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What sum will produce Rs. 410 as compound interest in 2 years at 5% per annum?

A. Rs. 4400

B. Rs. 3800

C. Rs. 4000

D. Rs. 4200

Answer: Option C

Solution (By JKSSB Mock Tests)

P = 410 / [(1.05)² − 1] = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

At what rate percent compound interest will Rs. 1600 amount to Rs. 1852.20 in 3 years?

A. 7%

B. 5%

C. 6%

D. 4%

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Correct Answer: Option B

Explanation:
1600(1+r)³ = 1852.20 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on a sum for 2 years at 10% is Rs. 60. The sum is:

A. Rs. 6000

B. Rs. 5000

C. Rs. 6500

D. Rs. 5500

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Correct Answer: Option A

Explanation:
D = P × 0.01 = 60 ⇒ P = 6000.

This question belongs to: Maths Compound Interest

Question #3

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

A. Rs. 1100

B. Rs. 900

C. Rs. 1200

D. Rs. 1000

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Correct Answer: Option D

Explanation:
P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

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