At what rate percent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest? MCQ with Answer and Explanation

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At what rate percent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest?

A. 4.5%

B. 4.16%

C. 4.34%

D. 4%

Answer: Option D

Solution (By JKSSB Mock Tests)

Amount/Principal = 2500 / 2304 = (50 / 48)^2 = (25 / 24)^2. Thus, 1 + R/100 = 25/24 => R/100 = 1/24 => R = 100/24 = 4.16%. Correct option is B.

This question belongs to: Maths Compound Interest

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Question #1

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The effective annual rate of interest for 8% per annum compounded quarterly is:

A. 8.30%

B. 8.24%

C. 8.16%

D. 8.42%

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Correct Answer: Option B

Explanation:
Quarterly rate 2%, (1.02)⁴ = 1.08243216, effective = 8.2432% ≈ 8.24%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 49 times?

A. 4 years

B. 9 years

C. 6 years

D. 5 years

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Correct Answer: Option C

Explanation:
49 = 7², so 3 × 2 = 6 years.

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Question #3

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Find the compound interest on Rs. 10000 at 8% per annum compounded quarterly for 1 year.

A. Rs. 800

B. Rs. 816

C. Rs. 824.32

D. Rs. 832

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Correct Answer: Option C

Explanation:
Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI = Rs. 824.32.

This question belongs to: Maths Compound Interest

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