A sum of money amounts to Rs. 14400 in 2 years and Rs. 17280 in 3 years at compound interest. Find the sum. MCQ with Answer and Explanation

A sum of money amounts to Rs. 14400 in 2 years and Rs. 17280 in 3 years at compound interest. Find the sum.

A. Rs. 10500

B. Rs. 9000

C. Rs. 9500

D. Rs. 10000

Answer: Option D

Rate = (17280/14400 − 1) × 100 = 20%. P = 14400 / (1.2)² = 14400 / 1.44 = 10000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

If the simple interest on a sum for 3 years at 10% is Rs. 600, the compound interest on the same sum for 2 years at the same rate is:

A. Rs. 400

B. Rs. 410

C. Rs. 420

D. Rs. 440

Correct Answer: Option C

Explanation:
SI = P × 10 × 3 / 100 = 0.3P = 600 ⇒ P = 2000. CI for 2 years = 2000[(1.1)² − 1] = 2000 × 0.21 = Rs. 420.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A certain sum amounts to Rs. 2205 in 2 years at 5% compound interest. The sum is:

A. Rs. 2100

B. Rs. 2150

C. Rs. 2000

D. Rs. 1900

Correct Answer: Option C

Explanation:
P = 2205 / (1.05)² = 2205 / 1.1025 = 2000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

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

A. Rs. 3800

B. Rs. 4400

C. Rs. 4000

D. Rs. 4200

Correct Answer: Option C

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

This question belongs to: Maths Compound Interest