At what rate percent compound interest will Rs. 6000 amount to Rs. 7260 in 2 years? MCQ with Answer and Explanation

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At what rate percent compound interest will Rs. 6000 amount to Rs. 7260 in 2 years?

A. 10%

B. 8%

C. 12%

D. 15%

Answer: Option A

Solution (By JKSSB Mock Tests)

6000(1+r)² = 7260 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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Question #1

The compound interest on Rs. 9500 at 8% per annum for 2 years is:

A. Rs. 1576

B. Rs. 1580.80

C. Rs. 1595

D. Rs. 1588

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Correct Answer: Option B

Explanation:
A = 9500 × (1.08)² = 9500 × 1.1664 = 11080.80, CI = 11080.80 − 9500 = Rs. 1580.80.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on Rs. 25000 for 2 years at 4% is:

A. Rs. 44

B. Rs. 48

C. Rs. 36

D. Rs. 40

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Correct Answer: Option D

Explanation:
D = 25000 × (0.04)² = 25000 × 0.0016 = Rs. 40.

This question belongs to: Maths Compound Interest

Question #3

A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

A. 12 years

B. 6 years

C. 9 years

D. 8 years

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Correct Answer: Option B

Explanation:
The sum becomes 3 times in 3 years. It will become 3^2 = 9 times in 2 * 3 = 6 years.

This question belongs to: Maths Compound Interest

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