The difference between CI and SI on Rs. 4200 for 2 years at 5% is: MCQ with Answer and Explanation
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Question #1
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The compound interest on a certain sum for 2 years at 5% per annum is Rs. 1230. Find the principal sum.
Correct Answer: Option A
Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 1230 => P = 1230 / 0.1025 = Rs. 12000.
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 1230 => P = 1230 / 0.1025 = Rs. 12000.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?
Correct Answer: Option B
Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 3600 for 2 years at 5% is:
Correct Answer: Option A
Explanation:
D = 3600 × 0.0025 = Rs. 9.
D = 3600 × 0.0025 = Rs. 9.
This question belongs to:
Maths
Compound Interest
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