A sum amounts to Rs. 2916 in 2 years and to Rs.3149.28 in 3 years at compound Interest. The sum is_________?
Correct answer: C. Rs.2500
- A. Rs.1500
- B. Rs.2000
- C. Rs.2500
- D. Rs.3000
Explanation
The one-year compound growth factor is Rs.3,149.28 ÷ Rs.2,916 = 1.08, so the annual rate is 8%. Therefore, the principal is Rs.2,916 ÷ (1.08)^2 = Rs.2,916 ÷ 1.1664 = Rs.2,500. Students often choose Rs.3,000 by using simple interest or by failing to remove two years of compound growth.
Last updated
About Percentages
Percentages express a quantity as parts per hundred and support calculations involving increases, decreases, discounts, commissions, taxes, and successive changes. Questions require distinguishing percentage change from percentage points and identifying the original value when a final value and its percentage change are given.
Practise Arithmetic
1,060 free Arithmetic MCQs from Mathematics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Mathematics questions like this
Mathematics is on 67 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
10 % of the electorate did not cast their votes in an election between two candidates. 10 % of the votes polled were found invalid. The successful candidate got 54 % of the valid votes and won by a majority of 1620 votes. The number of voters enrolled on the voter's list was___________?
12.5 + 10 1/4 of 100 ÷ 10% of 10 = ____________?
16.66% of 33.33% of 66.66% of ? = 30
20% of 40 + ? % of 80 = 120
25% of 30% of 45% is equal to__________?