At what rate percent per annum will Rs. 30000 amount to Rs. 36300 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation

At what rate percent per annum will Rs. 30000 amount to Rs. 36300 in 2 years, compound interest compounded annually?

A. 10%

B. 14%

C. 8%

D. 12%

Answer: Option A

Amount/Principal = 36300 / 30000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

Find the amount on Rs. 6000 at 8% per annum compound interest for 3 years.

A. Rs. 7558.27

B. Rs. 7560

C. Rs. 7580

D. Rs. 7600

Correct Answer: Option A

Explanation:
A = 6000 × (1.08)³ = 6000 × 1.259712 = 7558.272.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is:

A. Rs. 4.00

B. Rs. 4.80

C. Rs. 3.60

D. Rs. 3.20

Correct Answer: Option D

Explanation:
D = 2000 × (0.04)² = 2000 × 0.0016 = Rs. 3.20.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money placed at compound interest amounts to Rs. 1200 in 2 years and Rs. 1320 in 3 years. Find the rate of interest per annum.

A. 10%

B. 8%

C. 15%

D. 12%

Correct Answer: Option A

Explanation:
Interest earned in the 3rd year = 1320 - 1200 = Rs. 120. Rate of interest = (120 / 1200) * 100 = 10%.

This question belongs to: Maths Compound Interest