The difference between CI and SI on Rs. 12000 for 2 years at 5% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 12000 for 2 years at 5% is:

A. Rs. 25

B. Rs. 35

C. Rs. 40

D. Rs. 30

Answer: Option D

Difference = 12000 × (0.05)² = 12000 × 0.0025 = Rs. 30.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

A sum of money at compound interest amounts to Rs. 6655 in 3 years and to Rs. 7320.50 in 4 years. Find the rate of interest.

A. 11%

B. 9%

C. 10%

D. 8%

Correct Answer: Option C

Explanation:
Rate = (7320.50/6655 − 1) × 100 = (1.1 − 1) × 100 = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 100. Find the sum.

A. Rs. 10000

B. Rs. 12000

C. Rs. 9000

D. Rs. 11000

Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 100 = P * (10/100)^2 => 100 = P * 0.01 => P = Rs. 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9400

B. Rs. 9800

C. Rs. 9600

D. Rs. 9200

Correct Answer: Option C

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest