At what rate percent compound interest will Rs. 2400 amount to Rs. 2646 in 2 years? MCQ with Answer and Explanation

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At what rate percent compound interest will Rs. 2400 amount to Rs. 2646 in 2 years?

A. 7%

B. 4%

C. 6%

D. 5%

Answer: Option D

Solution (By JKExamLibrary)

2400(1+r)² = 2646 ⇒ (1+r)² = 1.1025 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

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

A. Rs. 2200

B. Rs. 2000

C. Rs. 2100

D. Rs. 1900

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Correct Answer: Option B

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

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 9800 for 2 years at 10% is:

A. Rs. 95

B. Rs. 90

C. Rs. 100

D. Rs. 98

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Correct Answer: Option D

Explanation:
D = 9800 × 0.01 = Rs. 98.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 2200 at 10% per annum for 2 years is:

A. Rs. 484

B. Rs. 500

C. Rs. 462

D. Rs. 520

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Correct Answer: Option C

Explanation:
A = 2200 × (1.1)² = 2200 × 1.21 = 2662, CI = 2662 − 2200 = Rs. 462.

This question belongs to: Maths Compound Interest

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