The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is: MCQ with Answer and Explanation
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Question #1
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The compound interest on Rs. 3000 for 3 years at 5% per annum is:
Correct Answer: Option C
Explanation:
A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.
A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum.
Correct Answer: Option A
Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.
This question belongs to:
Maths
Compound Interest
Question #3
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In how many years will Rs. 2500 amount to Rs. 3025 at 10% per annum compound interest?
Correct Answer: Option A
Explanation:
2500(1.1)^t = 3025 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.
2500(1.1)^t = 3025 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.
This question belongs to:
Maths
Compound Interest
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