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

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

A. 8%

B. 12%

C. 6%

D. 10%

Answer: Option A

Solution (By JKSSB Mock Tests)

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

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What sum will amount to Rs. 1331 in 3 years at 10% compound interest?

A. Rs. 900

B. Rs. 1200

C. Rs. 1000

D. Rs. 1100

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Correct Answer: Option C

Explanation:
P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

Question #2

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The difference between the compound interest compounded annually and the simple interest on a certain sum of money for 2 years at 6% per annum is Rs. 14.40. Find the sum.

A. Rs. 4200

B. Rs. 4400

C. Rs. 3600

D. Rs. 4000

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Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 14.40 = P * (6/100)^2 => 14.40 = P * (36 / 10000) => P = (14.40 * 10000) / 36 = 144000 / 36 = Rs. 4000.

This question belongs to: Maths Compound Interest