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

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

A. 15%

B. 12%

C. 10%

D. 8%

Answer: Option C

Solution (By JKSSB Mock Tests)

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

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

What will be the amount on Rs. 2400 at 10% per annum compound interest for 2 years?

A. Rs. 2880

B. Rs. 2904

C. Rs. 2800

D. Rs. 3000

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Correct Answer: Option B

Explanation:
A = 2400 × (1.1)² = 2400 × 1.21 = 2904.

This question belongs to: Maths Compound Interest

Question #2

What will be the compound interest on a sum of Rs. 25000 after 3 years at the rate of 12% per annum?

A. Rs. 9000.00

B. Rs. 9720.00

C. Rs. 10483.20

D. Rs. 10123.20

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Correct Answer: Option D

Explanation:
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.

This question belongs to: Maths Compound Interest

Question #3

What is the principal if the amount after 2 years at 10% compound interest is Rs. 12100?

A. Rs. 11000

B. Rs. 12000

C. Rs. 13000

D. Rs. 10000

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Correct Answer: Option D

Explanation:
P = 12100 / (1.1)² = 12100 / 1.21 = 10000.

This question belongs to: Maths Compound Interest

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