If the amount received at the end of 2nd and 3rd year at Compound Inte – McqOptions

MCQOPTIONS

1.	If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 28090, and Rs 29775.4 respectively, what is theÂ rate of interest?
A.	6 percent
B.	3 percent
C.	12 percent
D.	10 percent
Answer» B. 3 percent

Discussion

No Comment Found

Related MCQs

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
What is the difference between the compound interests on Rs. 5000 for 3/2 years at 4% per annum compounded yearly and half-yearly?
You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.
What would be the least number of years in which the simple interest on Rs.2600 at % will be an exact number of rupees ?
What would be the compound interest of Rs. 25000 for 2 yrs. at 5% per annum?
What will be the compound interest on a sum of Rs.25,000 after 3 years at the rate of 12 p.c.p.a?
What periodic payment will an investor receive from a $9000, four-year, monthly payment GIC earning a nominal rate of 5.25% compounded monthly?
What lump sum deposited today would allow payments of $2000/year for 7 years at 5% compounded annually?
What is the SI on Rs.2500/- at the rate of 12% per annum for 8 years?
What is the rate of interest p.c.p.a.?_x005F_x000D_ I. An amount doubles itself in 5 years on simple interest._x005F_x000D_ II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400._x005F_x000D_ III. Simple interest earned per annum is Rs. 2000