The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is: MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on Rs. 3600 for 2 years at 5% is:
Correct Answer: Option C
Explanation:
D = 3600 × 0.0025 = Rs. 9.
D = 3600 × 0.0025 = Rs. 9.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the compound interest on Rs. 10000 for 1 year at 8% per annum, compounded half-yearly?
Correct Answer: Option B
Explanation:
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 10000 * (1 + 4/100)^2 = 10000 * 1.0816 = Rs. 10816. Compound Interest = 10816 - 10000 = Rs. 816.
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 10000 * (1 + 4/100)^2 = 10000 * 1.0816 = Rs. 10816. Compound Interest = 10816 - 10000 = Rs. 816.
This question belongs to:
Maths
Compound Interest
Question #3
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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.
Correct Answer: Option B
Explanation:
Difference for 2 years = P * (R/100)^2 => 100 = P * (10/100)^2 => 100 = P * 0.01 => P = Rs. 10000.
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
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