The difference between CI and SI on Rs. 1000 for 2 years at 10% is: MCQ with Answer and Explanation
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Question #1
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The compound interest on a certain sum for 2 years at 12% per annum is Rs. 508.80. Find the principal sum.
Correct Answer: Option B
Explanation:
Effective rate of compound interest for 2 years at 12% = 12 + 12 + (1212)/100 = 25.44%. Given 25.44% of P = 508.80 => P = 508.80 / 0.2544 = Rs. 2000.
Effective rate of compound interest for 2 years at 12% = 12 + 12 + (1212)/100 = 25.44%. Given 25.44% of P = 508.80 => P = 508.80 / 0.2544 = Rs. 2000.
This question belongs to:
Maths
Compound Interest
Question #2
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Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years.
Correct Answer: Option C
Explanation:
A = 13500 × (1.08)² = 13500 × 1.1664 = 15746.40.
A = 13500 × (1.08)² = 13500 × 1.1664 = 15746.40.
This question belongs to:
Maths
Compound Interest
Question #3
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The effective rate of interest for 5% per annum compounded half-yearly is:
Correct Answer: Option B
Explanation:
Effective rate = (1.025)² − 1 = 1.050625 − 1 = 5.0625%.
Effective rate = (1.025)² − 1 = 1.050625 − 1 = 5.0625%.
This question belongs to:
Maths
Compound Interest
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