The difference between CI and SI on Rs. 2500 for 2 years at 8% is: MCQ with Answer and Explanation

Question
The difference between CI and SI on Rs. 2500 for 2 years at 8% is:
A. Rs. 14
B. Rs. 15
C. Rs. 17
D. Rs. 16
Answer: Option D
Solution (By JKExamLibrary)
D = 2500 × 0.0064 = Rs. 16.
This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1
At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years?
A. 4%
B. 6%
C. 5%
D. 3%
Discuss

Correct Answer: Option A

Explanation:
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.
This question belongs to: Maths Compound Interest
Question #2
A sum of money placed at compound interest becomes double of itself in 8 years. In how many years will it become 16 times of itself?
A. 48 years
B. 24 years
C. 32 years
D. 40 years
Discuss

Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 8 years. It will become 16 (2^4) times in 4 * 8 = 32 years.
This question belongs to: Maths Compound Interest
Question #3
A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times?
A. 4 years
B. 6 years
C. 5 years
D. 3 years
Discuss

Correct Answer: Option A

Explanation:
100 = 10², so 2 × 2 = 4 years.
This question belongs to: Maths Compound Interest
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