The difference between CI and SI on Rs. 1100 for 2 years at 10% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 1100 for 2 years at 10% is:

A. Rs. 13

B. Rs. 10

C. Rs. 11

D. Rs. 12

Answer: Option C

D = 1100 × 0.01 = Rs. 11.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money doubles itself at compound interest in 8 years. In how many years will it become 16 times?

A. 28 years

B. 32 years

C. 36 years

D. 24 years

Correct Answer: Option B

Explanation:
2 times in 8 years, 16 = 2⁴, so 8 × 4 = 32 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

What is the principal if the compound interest on it for 2 years at 10% is Rs. 1050?

A. Rs. 4500

B. Rs. 5500

C. Rs. 6000

D. Rs. 5000

Correct Answer: Option D

Explanation:
CI = P × 0.21 = 1050 ⇒ P = 1050 / 0.21 = 5000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the amount on Rs. 6250 at 8% per annum compound interest for 2 years.

A. Rs. 7350

B. Rs. 7320

C. Rs. 7290

D. Rs. 7300

Correct Answer: Option C

Explanation:
A = 6250 × (1.08)² = 6250 × 1.1664 = 7290.

This question belongs to: Maths Compound Interest