At what rate percent compound interest will Rs. 3200 amount to Rs. 3872 in 2 years? MCQ with Answer and Explanation

At what rate percent compound interest will Rs. 3200 amount to Rs. 3872 in 2 years?

A. 12%

B. 10%

C. 15%

D. 8%

Answer: Option B

3200(1+r)² = 3872 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money placed at compound interest becomes double of itself in 6 years. In how many years will it become 8 times of itself?

A. 18 years

B. 24 years

C. 30 years

D. 12 years

Correct Answer: Option A

Explanation:
The sum becomes 2^1 times in 6 years. It will become 8 (2^3) times in 3 * 6 = 18 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 16

B. Rs. 18

C. Rs. 20

D. Rs. 22

Correct Answer: Option C

Explanation:
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 3300 at 10% per annum for 2 years is:

A. Rs. 693

B. Rs. 780

C. Rs. 750

D. Rs. 726

Correct Answer: Option A

Explanation:
A = 3300 × (1.1)² = 3300 × 1.21 = 3993, CI = 3993 − 3300 = Rs. 693.

This question belongs to: Maths Compound Interest