At what rate of compound interest per annum will a sum of Rs. 800 become Rs. 882 in 2 years? MCQ with Answer and Explanation

At what rate of compound interest per annum will a sum of Rs. 800 become Rs. 882 in 2 years?

A. 6%

B. 4%

C. 5%

D. 8%

Answer: Option C

800 × (1 + r)² = 882 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate of compound interest will Rs. 12800 amount to Rs. 15488 in 2 years?

A. 15%

B. 12%

C. 10%

D. 8%

Correct Answer: Option C

Explanation:
12800(1+r)² = 15488 ⇒ (1+r)² = 1.21 = (1.1)² ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A man invested Rs. 15000 at compound interest for 2 years at 4% per annum. Find the amount.

A. Rs. 16300

B. Rs. 16400

C. Rs. 16224

D. Rs. 16240

Correct Answer: Option C

Explanation:
A = 15000 × (1.04)² = 15000 × 1.0816 = 16224.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on a certain sum for 2 years at 6% is Rs. 36. The sum is:

A. Rs. 10000

B. Rs. 8000

C. Rs. 9000

D. Rs. 11000

Correct Answer: Option A

Explanation:
D = P × (0.06)² = P × 0.0036 = 36 ⇒ P = 10000.

This question belongs to: Maths Compound Interest