At what rate percent per annum will a sum of Rs. 1000 amount to Rs. 1331 in 3 years at compound interest? MCQ with Answer and Explanation

At what rate percent per annum will a sum of Rs. 1000 amount to Rs. 1331 in 3 years at compound interest?

A. 11%

B. 9%

C. 10%

D. 12%

Answer: Option C

1000 × (1 + R/100)³ = 1331 ⇒ (1 + R/100)³ = 1.331 = (1.1)³ ⇒ R/100 = 0.1 ⇒ R = 10%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

What sum will amount to Rs. 11664 in 2 years at 8% compound interest?

A. Rs. 10500

B. Rs. 11000

C. Rs. 9500

D. Rs. 10000

Correct Answer: Option D

Explanation:
P = 11664 / (1.08)² = 11664 / 1.1664 = 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on a sum for 2 years at 6% is Rs. 370.80. The sum is:

A. Rs. 3000

B. Rs. 3400

C. Rs. 2800

D. Rs. 3200

Correct Answer: Option A

Explanation:
CI = P × 0.1236 = 370.80 ⇒ P = 3000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

If the compound interest on a sum for 2 years at 5% is Rs. 307.50, the simple interest on the same sum for 2 years at 5% is:

A. Rs. 290

B. Rs. 300

C. Rs. 280

D. Rs. 310

Correct Answer: Option B

Explanation:
CI = P × 0.1025 = 307.50 ⇒ P = 3000. SI = 3000 × 5 × 2 / 100 = Rs. 300.

This question belongs to: Maths Compound Interest