The difference between CI and SI on Rs. 5800 for 2 years at 5% is: MCQ with Answer and Explanation

Question
The difference between CI and SI on Rs. 5800 for 2 years at 5% is:
A. Rs. 14.50
B. Rs. 15.00
C. Rs. 13.50
D. Rs. 14.00
Answer: Option A
Solution (By JKExamLibrary)
D = 5800 × 0.0025 = Rs. 14.50.
This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1
The population of a village increases at 5% per annum. If the present population is 4410, what was it 2 years ago?
A. 4000
B. 4100
C. 3900
D. 3800
Discuss

Correct Answer: Option A

Explanation:
Population 2 years ago = 4410 / (1.05)² = 4410 / 1.1025 = 4000.
This question belongs to: Maths Compound Interest
Question #2
In how many years will Rs. 4000 amount to Rs. 4410 at 5% per annum compound interest?
A. 1.5 years
B. 2 years
C. 2.5 years
D. 1 year
Discuss

Correct Answer: Option B

Explanation:
4000(1.05)^t = 4410 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.
This question belongs to: Maths Compound Interest
Question #3
What sum will amount to Rs. 13310 in 3 years at 10% per annum compound interest?
A. Rs. 9500
B. Rs. 9000
C. Rs. 10000
D. Rs. 10500
Discuss

Correct Answer: Option C

Explanation:
P = 13310 / (1.1)³ = 13310 / 1.331 = 10000.
This question belongs to: Maths Compound Interest
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