At what rate percent per annum will Rs. 30000 amount to Rs. 36300 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation

Explanation:
Half-yearly rate = 4/2 = 2%. Time = 1.5 years = 3 half-years. Amount = 50000 * (1 + 2/100)^3 = 50000 * (1.02)^3 = 50000 * 1.061208 = Rs. 53060.40. Compound Interest = 53060.40 - 50000 = Rs. 3060.40.

Explanation:
Rate = (7320.50/6655 − 1) × 100 = (1.1 − 1) × 100 = 10%.

Explanation:
The sum becomes 3^1 times in 5 years. It will become 9 (3^2) times in 2 * 5 = 10 years.