The compound interest on a certain sum for 2 years at 10% per annum is Rs. 630. Find the principal sum. MCQ with Answer and Explanation

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 630. Find the principal sum.

A. Rs. 3400

B. Rs. 3200

C. Rs. 3000

D. Rs. 2800

Answer: Option C

Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 630 => P = 630 / 0.21 = Rs. 3000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on Rs. 1250 at 8% per annum for 2 years is:

A. Rs. 208

B. Rs. 212

C. Rs. 216

D. Rs. 204

Correct Answer: Option A

Explanation:
A = 1250 × (1.08)² = 1250 × 1.1664 = 1458, CI = 1458 − 1250 = Rs. 208.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 4400 at 10% per annum for 2 years is:

A. Rs. 1012

B. Rs. 880

C. Rs. 924

D. Rs. 968

Correct Answer: Option C

Explanation:
A = 4400 × 1.21 = 5324, CI = 5324 − 4400 = Rs. 924.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 4200 for 2 years at 5% is:

A. Rs. 9.00

B. Rs. 10.50

C. Rs. 8.40

D. Rs. 12.00

Correct Answer: Option B

Explanation:
D = 4200 × 0.0025 = Rs. 10.50.

This question belongs to: Maths Compound Interest