The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is:

A. Rs. 3800

B. Rs. 4400

C. Rs. 4200

D. Rs. 4000

Answer: Option D

CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on a sum for 1 year at 10% compounded half-yearly is Rs. 102.50. The sum is:

A. Rs. 1000

B. Rs. 950

C. Rs. 1100

D. Rs. 1050

Correct Answer: Option A

Explanation:
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 343 times?

A. 7 years

B. 8 years

C. 9 years

D. 6 years

Correct Answer: Option C

Explanation:
343 = 7³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The simple interest on a sum for 2 years at 15% is Rs. 600. The compound interest on the same sum for 2 years at 15% is:

A. Rs. 675

B. Rs. 690

C. Rs. 645

D. Rs. 660

Correct Answer: Option C

Explanation:
P = 60000/(15×2) = 2000. CI = 2000[(1.15)² − 1] = 2000 × 0.3225 = 645.

This question belongs to: Maths Compound Interest