compound interest
7.  At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?  
Answer: Option A Explanation:
Let the rate be R% p.a.
R = 6% 
8.  The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:  
Answer: Option B Explanation:
So, n = 4 years. 
9.  Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?  
Answer: Option C Explanation:

10.  The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable halfyearly is:  
Answer: Option D Explanation:
Effective rate = (106.09 – 100)% = 6.09% 