At what rate percent per annum will Rs. 8000 amount to Rs. 9261 in 3 years, compound interest compounded annually? MCQ with Answer and Explanation

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At what rate percent per annum will Rs. 8000 amount to Rs. 9261 in 3 years, compound interest compounded annually?

A. 8%

B. 4%

C. 5%

D. 6%

Answer: Option C

Solution (By JKSSB Mock Tests)

Amount/Principal = 9261 / 8000 = (21 / 20)^3. Therefore, 1 + R/100 = 21/20 => R/100 = 1/20 => R = 5%.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between simple interest and compound interest on Rs. 18000 for 2 years is Rs. 405. Find the rate of interest per annum.

A. 12%

B. 15%

C. 20%

D. 18%

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Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 405 = 18000 * (R/100)^2 => 405 = 1.8 * R^2 => R^2 = 405 / 1.8 = 225 => R = 15%.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 6000 at 5% per annum for 2 years is:

A. Rs. 645

B. Rs. 600

C. Rs. 615

D. Rs. 630

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Correct Answer: Option C

Explanation:
A = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.

This question belongs to: Maths Compound Interest

Question #3

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The simple interest on a sum for 2 years at 6% is Rs. 360. The compound interest for the same period and rate is:

A. Rs. 375.00

B. Rs. 378.00

C. Rs. 372.00

D. Rs. 370.80

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Correct Answer: Option D

Explanation:
P = 36000/(6×2) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

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