At what rate percent per annum will Rs. 10000 amount to Rs. 11664 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation

At what rate percent per annum will Rs. 10000 amount to Rs. 11664 in 2 years, compound interest compounded annually?

A. 6%

B. 12%

C. 8%

D. 10%

Answer: Option C

Amount/Principal = 11664 / 10000. Taking square root: sqrt(11664/10000) = 108 / 100 = 1.08. Therefore, 1 + R/100 = 1.08 => R = 8%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

What sum will amount to Rs. 2315.25 in 3 years at 5% compound interest?

A. Rs. 2000

B. Rs. 1900

C. Rs. 2100

D. Rs. 1800

Correct Answer: Option A

Explanation:
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

In how many years will Rs. 1600 amount to Rs. 1764 at 5% per annum compound interest?

A. 2.5 years

B. 1.5 years

C. 1 year

D. 2 years

Correct Answer: Option D

Explanation:
1600(1.05)^t = 1764 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #3 Report Error

If Rs. 5000 becomes Rs. 5832 in 2 years at compound interest, the rate is:

A. 7%

B. 9%

C. 8%

D. 6%

Correct Answer: Option C

Explanation:
5000(1+r)² = 5832 ⇒ (1+r)² = 1.1664 = (1.08)² ⇒ r = 8%.

This question belongs to: Maths Compound Interest