The difference between CI and SI on Rs. 3200 for 2 years at 5% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 3200 for 2 years at 5% is:

A. Rs. 8

B. Rs. 6

C. Rs. 7

D. Rs. 9

Answer: Option A

D = 3200 × (0.05)² = 3200 × 0.0025 = Rs. 8.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 7% per annum is Rs. 49. Find the sum.

A. Rs. 11000

B. Rs. 9000

C. Rs. 12000

D. Rs. 10000

Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 49 = P * (7/100)^2 => 49 = P * (49 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money invested at compound interest doubles itself in 5 years. In how many years will it become 8 times of itself?

A. 25 years

B. 10 years

C. 15 years

D. 20 years

Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 5 years. It will become 8 (2^3) times in 3 * 5 = 15 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on a sum for 2 years at 10% is Rs. 60. The sum is:

A. Rs. 6000

B. Rs. 5500

C. Rs. 6500

D. Rs. 5000

Correct Answer: Option A

Explanation:
D = P × 0.01 = 60 ⇒ P = 6000.

This question belongs to: Maths Compound Interest