At what rate percent per annum will Rs. 10000 amount to Rs. 12100 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. 12100 in 2 years, compound interest compounded annually?

A. 8%

B. 12%

C. 10%

D. 14%

Answer: Option C

Solution (By JKSSB Mock Tests)

Amount/Principal = 12100 / 10000 = (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

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The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 900

B. Rs. 1050

C. Rs. 1000

D. Rs. 950

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Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

Question #2

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

A. Rs. 1576

B. Rs. 1588

C. Rs. 1580.80

D. Rs. 1595

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Correct Answer: Option C

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 #3

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If the simple interest on a sum for 3 years at 10% is Rs. 600, the compound interest on the same sum for 2 years at the same rate is:

A. Rs. 410

B. Rs. 400

C. Rs. 420

D. Rs. 440

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Correct Answer: Option C

Explanation:
SI = P × 10 × 3 / 100 = 0.3P = 600 ⇒ P = 2000. CI for 2 years = 2000[(1.1)² − 1] = 2000 × 0.21 = Rs. 420.

This question belongs to: Maths Compound Interest

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