At what rate percent compound interest will Rs. 2700 amount to Rs. 3267 in 2 years? MCQ with Answer and Explanation

At what rate percent compound interest will Rs. 2700 amount to Rs. 3267 in 2 years?

A. 10%

B. 15%

C. 12%

D. 8%

Answer: Option A

2700(1+r)² = 3267 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 100. Find the sum.

A. Rs. 12000

B. Rs. 10000

C. Rs. 11000

D. Rs. 9000

Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 100 = P * (10/100)^2 => 100 = P * 0.01 => P = Rs. 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 3700 at 10% per annum for 2 years is:

A. Rs. 851

B. Rs. 777

C. Rs. 814

D. Rs. 740

Correct Answer: Option B

Explanation:
A = 3700 × 1.21 = 4477, CI = 4477 − 3700 = Rs. 777.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 17500 at 8% per annum for 2 years.

A. Rs. 3000

B. Rs. 2968

C. Rs. 2912

D. Rs. 2940

Correct Answer: Option C

Explanation:
A = 17500 × 1.1664 = 20412, CI = 20412 − 17500 = Rs. 2912.

This question belongs to: Maths Compound Interest