At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years? MCQ with Answer and Explanation

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At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years?

A. 3%

B. 5%

C. 6%

D. 4%

Answer: Option D

Solution (By JKSSB Mock Tests)

625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.

This question belongs to: Maths Compound Interest

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Question #1

At what rate of compound interest will Rs. 625 amount to Rs. 676 in 2 years?

A. 3%

B. 5%

C. 6%

D. 4%

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Correct Answer: Option D

Explanation:
625(1 + r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 28.80

B. Rs. 30.00

C. Rs. 32.40

D. Rs. 34.20

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Correct Answer: Option C

Explanation:
D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

Question #3

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. 15%

B. 10%

C. 8%

D. 12%

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Correct Answer: Option B

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

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