Find the rate of compound interest per annum, so that the amount on Rs. 400 for 2 years becomes Rs. 441 . - Quantitative Aptitude MCQ Competitive Exams 2026 | ExamTest.live

mediumMCQCompetitive Exams2026Quantitative Aptitude

1 mark

Find the rate of compound interest per annum, so that the amount on Rs. 400 for 2 years becomes Rs. 441 .

Solution & Step-by-step Explanation

Given parameters: Principal (P) = Rs. 400 Amount (A) = Rs. 441 Time (n) = 2 years Using the compound interest formula: A = P (1 + \frac{R}{100})^{n} 441 = 400 (1 + \frac{R}{100})^{2} \frac{441}{400} = (1 + \frac{R}{100})^{2} Since \frac{441}{400} = (\frac{21}{20})^{2}, we can take the square root of both sides: \frac{21}{20} = 1 + \frac{R}{100} \frac{R}{100} = \frac{21}{20} - 1 \frac{R}{100} = \frac{1}{20} R = \frac{100}{20} = 5% per annum

Try it yourself before checking the explanation above.

Find the rate of compound interest per annum, so that the amount on Rs. 400 for 2 years becomes Rs. 441 .

6%

7%

5%

9%

Practice with timed mock tests and track your performance across Quantitative Aptitude.