The difference between CI and SI on Rs. 18000 for 2 years at 5% is: MCQ with Answer and Explanation

Question
The difference between CI and SI on Rs. 18000 for 2 years at 5% is:
A. Rs. 55
B. Rs. 50
C. Rs. 40
D. Rs. 45
Answer: Option D
Solution (By JKExamLibrary)
D = 18000 × (0.05)² = 18000 × 0.0025 = Rs. 45.
This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1
Find the compound interest on Rs. 9000 at 8% per annum for 2 years.
A. Rs. 1524.80
B. Rs. 1497.60
C. Rs. 1512
D. Rs. 1500
Discuss

Correct Answer: Option B

Explanation:
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.
This question belongs to: Maths Compound Interest
Question #2
At what rate percent per annum will Rs. 40000 amount to Rs. 48400 in 2 years, compound interest compounded annually?
A. 10%
B. 8%
C. 12%
D. 14%
Discuss

Correct Answer: Option A

Explanation:
Amount/Principal = 48400 / 40000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
This question belongs to: Maths Compound Interest
Question #3
The population of a town increases by 10% per annum. If the present population is 6050, what was it 2 years ago?
A. 6000
B. 5500
C. 5800
D. 5000
Discuss

Correct Answer: Option D

Explanation:
Population 2 years ago = 6050 / (1.1)² = 6050 / 1.21 = 5000.
This question belongs to: Maths Compound Interest
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