The difference between CI and SI on Rs. 4100 for 2 years at 5% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 4100 for 2 years at 5% is:

A. Rs. 9.50

B. Rs. 10.25

C. Rs. 11.00

D. Rs. 8.50

Answer: Option B

D = 4100 × 0.0025 = Rs. 10.25.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

In how many years will Rs. 2500 amount to Rs. 3025 at 10% per annum compound interest?

A. 1.5 years

B. 2.5 years

C. 3 years

D. 2 years

Correct Answer: Option D

Explanation:
2500(1.1)^t = 3025 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #2 Report Error

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

A. Rs. 9600

B. Rs. 9200

C. Rs. 9800

D. Rs. 9400

Correct Answer: Option A

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The simple interest on a sum for 2 years at 8% is Rs. 640. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 678.40

B. Rs. 672.00

C. Rs. 684.00

D. Rs. 665.60

Correct Answer: Option D

Explanation:
P = 64000/(8×2) = 4000. CI = 4000[(1.08)² − 1] = 4000 × 0.1664 = Rs. 665.60.

This question belongs to: Maths Compound Interest