The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 4310.12. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 4310.12. The sum is:

A. Rs. 20000

B. Rs. 18000

C. Rs. 21000

D. Rs. 19000

Answer: Option A

CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 4310.125 ⇒ P = 4310.125 / 0.21550625 = 20000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

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

A. Rs. 3900

B. Rs. 3800

C. Rs. 4100

D. Rs. 4000

Correct Answer: Option D

Explanation:
P = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money placed at compound interest becomes double of itself in 10 years. In how many years will it become 8 times of itself?

A. 20 years

B. 40 years

C. 30 years

D. 50 years

Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 10 years. It will become 8 (2^3) times in 3 * 10 = 30 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest?

A. Rs. 13000

B. Rs. 12000

C. Rs. 11000

D. Rs. 14000

Correct Answer: Option B

Explanation:
P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest