The compound interest on a sum for 2 years at 12% is Rs. 381.60. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 12% is Rs. 381.60. The sum is:

A. Rs. 1700

B. Rs. 1500

C. Rs. 1400

D. Rs. 1600

Answer: Option B

Solution (By JKExamLibrary)

CI = P × 0.2544 = 381.60 ⇒ P = 1500.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

What will be the compound interest on Rs. 7500 at 4% per annum for 2 years?

A. Rs. 624

B. Rs. 616

C. Rs. 612

D. Rs. 608

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Correct Answer: Option C

Explanation:
A = 7500 × (1.04)² = 7500 × 1.0816 = 8112, CI = 8112 − 7500 = Rs. 612.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the amount on Rs. 6250 at 8% per annum compound interest for 2 years.

A. Rs. 7290

B. Rs. 7300

C. Rs. 7320

D. Rs. 7350

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Correct Answer: Option A

Explanation:
A = 6250 × (1.08)² = 6250 × 1.1664 = 7290.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The effective annual rate for 24% per annum compounded half-yearly is:

A. 25%

B. 26%

C. 26.50%

D. 25.44%

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Correct Answer: Option D

Explanation:
Half-yearly rate 12%, (1.12)² = 1.2544, effective = 25.44%.

This question belongs to: Maths Compound Interest

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