The difference between CI and SI on a sum for 2 years at 12% is Rs. 72. The sum is: MCQ with Answer and Explanation

The difference between CI and SI on a sum for 2 years at 12% is Rs. 72. The sum is:

A. Rs. 5000

B. Rs. 6000

C. Rs. 5500

D. Rs. 4500

Answer: Option A

D = P × (0.12)² = P × 0.0144 = 72 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The simple interest on a sum at 5% for 3 years is Rs. 600. The compound interest on the same sum for 2 years at 5% is:

A. Rs. 405

B. Rs. 400

C. Rs. 410

D. Rs. 415

Correct Answer: Option C

Explanation:
P = 60000/(5×3) = 4000. CI = 4000[(1.05)² − 1] = 4000 × 0.1025 = Rs. 410.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 1000 at 10% per annum for 2 years compounded half-yearly is:

A. Rs. 210

B. Rs. 215.50

C. Rs. 220

D. Rs. 225

Correct Answer: Option B

Explanation:
Half-yearly rate 5%, n=4. A = 1000 × (1.05)⁴ = 1000 × 1.21550625 = 1215.50625, CI ≈ Rs. 215.50.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 3000 for 2 years at 6% is:

A. Rs. 11.20

B. Rs. 9.60

C. Rs. 10.80

D. Rs. 10.00

Correct Answer: Option C

Explanation:
D = 3000 × (0.06)² = 3000 × 0.0036 = Rs. 10.80.

This question belongs to: Maths Compound Interest