The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum. MCQ with Answer and Explanation

The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum.

A. Rs. 15000

B. Rs. 14000

C. Rs. 17000

D. Rs. 16000

Answer: Option D

D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The difference between compound interest and simple interest on Rs. 5000 at 10% for 3 years is:

A. Rs. 160

B. Rs. 165

C. Rs. 170

D. Rs. 155

Correct Answer: Option D

Explanation:
D = 5000 × (0.1)² × (3 + 0.1) = 5000 × 0.01 × 3.1 = 155.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 10500 at 10% per annum for 2 years is:

A. Rs. 2310

B. Rs. 2100

C. Rs. 2420

D. Rs. 2205

Correct Answer: Option D

Explanation:
A = 10500 × 1.21 = 12705, CI = 12705 − 10500 = Rs. 2205.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 75000 at 10% per annum for 2 years.

A. Rs. 18000

B. Rs. 16500

C. Rs. 17250

D. Rs. 15750

Correct Answer: Option D

Explanation:
A = 75000 × (1.1)² = 75000 × 1.21 = 90750, CI = 90750 − 75000 = Rs. 15750.

This question belongs to: Maths Compound Interest