Question : A sum of Rs. 3000 amounts to Rs. 6000 in two years at compound interest. The interest for four years is:
Option 1: Rs. 9000
Option 2: Rs. 12000
Option 3: Rs. 6000
Option 4: Rs. 3000
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Correct Answer: Rs. 9000
Solution : Given: Principal = Rs. 3000 Amount = Rs. 6000 Let the rate of Interest be $R$. Time = 2 years Formula used: Amount = $P(1+\frac{R}{100})^{n}$ where n is the number of years. Calculation: $6000= P(1+\frac{R}{100})^{n} = 3000(1+\frac{R}{100})^{2}$ $(\frac{6000}{3000}) = (1+\frac{R}{100})^{2}$ $2 = (1+\frac{R}{100})^{2}$.....................I Amount in 4 years = $3000(1+\frac{R}{100})^{4} = 3000 \times 2^2$ = Rs. 12000 Interest in 4 years = $12000 - 3000$ = Rs. 9000 Hence, the correct answer is Rs. 9000.
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Question : A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years will the same amount become Rs. 8000?
Option 1: 2 years
Option 2: 4 years
Option 3: 6 years
Option 4: 8 years
Question : The compound interest on a certain sum of money for 2 years at 5% interest is Rs. 328. The sum is:
Option 1: Rs. 3000
Option 2: Rs. 3600
Option 3: Rs. 3200
Option 4: Rs. 3400
Question : A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:
Option 1: $2\frac{1}{2}$%
Option 2: $4$%
Option 3: $5$%
Option 4: $6\frac{2}{3}$%
Question : A man invested a sum of money at compound interest. It amounted to Rs. 2420 in 2 years and Rs. 2662 in 3 years. Find the sum:
Option 1: Rs. 1000
Option 2: Rs. 2000
Option 3: Rs. 5082
Question : In 3 years, Rs. 3000 amounts to Rs. 3993 at $x$% compound interest compounded annually. The value of $x$ is ___.
Option 1: $10$
Option 2: $8$
Option 3: $5$
Option 4: $3\frac{1}{3}$
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