The compound interest on a sum for 2 years at 5% is Rs. 205. Find the sum. MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 5% is Rs. 205. Find the sum.

A. Rs. 2000

B. Rs. 1900

C. Rs. 2200

D. Rs. 2100

Answer: Option A

Solution (By JKExamLibrary)

CI = P[(1.05)² − 1] = P × 0.1025 = 205 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum amounts to Rs. 2662 in 3 years at 10% compound interest. The sum is:

A. Rs. 2200

B. Rs. 1800

C. Rs. 2000

D. Rs. 2400

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Correct Answer: Option C

Explanation:
P = 2662 / (1.1)³ = 2662 / 1.331 = 2000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 3500 at 8% per annum for 2 years is:

A. Rs. 588.00

B. Rs. 582.40

C. Rs. 592.00

D. Rs. 576.40

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Correct Answer: Option B

Explanation:
A = 3500 × (1.08)² = 3500 × 1.1664 = 4082.40, CI = 4082.40 − 3500 = Rs. 582.40.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times?

A. 6 years

B. 4 years

C. 5 years

D. 3 years

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Correct Answer: Option B

Explanation:
100 = 10², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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