The compound interest on a sum for 2 years at 12% is Rs. 636. 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. 636. The sum is:

A. Rs. 2600

B. Rs. 2000

C. Rs. 2500

D. Rs. 2400

Answer: Option C

Solution (By JKExamLibrary)

CI = P[(1.12)² − 1] = P × 0.2544 = 636 ⇒ P = 636/0.2544 = 2500.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

What sum will amount to Rs. 1331 in 3 years at 10% compound interest?

A. Rs. 1100

B. Rs. 900

C. Rs. 1200

D. Rs. 1000

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Correct Answer: Option D

Explanation:
P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?

A. 12 years

B. 9 years

C. 7 years

D. 6 years

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Correct Answer: Option B

Explanation:
512 = 8³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

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

A. Rs. 900

B. Rs. 800

C. Rs. 1100

D. Rs. 1000

View Answer & Solution Discuss

Correct Answer: Option D

Explanation:
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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