A sum amounts to Rs. 1331 in 3 years and Rs. 1464.10 in 4 years at compound interest. Find the sum. MCQ with Answer and Explanation

A sum amounts to Rs. 1331 in 3 years and Rs. 1464.10 in 4 years at compound interest. Find the sum.

A. Rs. 800

B. Rs. 1100

C. Rs. 900

D. Rs. 1000

Answer: Option D

Rate = (1464.10/1331 − 1) × 100 = 10%. P = 1331 / (1.1)³ = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A man invested Rs. 15000 at compound interest for 2 years at 4% per annum. Find the amount.

A. Rs. 16400

B. Rs. 16300

C. Rs. 16224

D. Rs. 16240

Correct Answer: Option C

Explanation:
A = 15000 × (1.04)² = 15000 × 1.0816 = 16224.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between compound interest and simple interest on Rs. 2000 for 3 years at 5% per annum is:

A. Rs. 16.00

B. Rs. 15.25

C. Rs. 16.50

D. Rs. 15.50

Correct Answer: Option B

Explanation:
CI − SI = P × (R/100)² × (3 + R/100) = 2000 × 0.0025 × 3.05 = 2000 × 0.007625 = Rs. 15.25.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 8000 at 10% per annum for 1 year compounded half-yearly is:

A. Rs. 800

B. Rs. 840

C. Rs. 820

D. Rs. 860

Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=2. A = 8000 × (1.05)² = 8000 × 1.1025 = 8820, CI = 8820 − 8000 = Rs. 820.

This question belongs to: Maths Compound Interest