The difference between CI and SI on Rs. 6200 for 2 years at 5% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 6200 for 2 years at 5% is:

A. Rs. 16.00

B. Rs. 14.00

C. Rs. 15.50

D. Rs. 13.50

Answer: Option C

D = 6200 × 0.0025 = Rs. 15.50.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on Rs. 4300 at 10% per annum for 2 years is:

A. Rs. 903

B. Rs. 860

C. Rs. 989

D. Rs. 946

Correct Answer: Option A

Explanation:
A = 4300 × 1.21 = 5203, CI = 5203 − 4300 = Rs. 903.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest becomes 5 times in 4 years. In how many years will it become 25 times?

A. 12 years

B. 8 years

C. 6 years

D. 10 years

Correct Answer: Option B

Explanation:
25 = 5², so 4 × 2 = 8 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate of compound interest will Rs. 2000 amount to Rs. 2205 in 2 years?

A. 5%

B. 7%

C. 4%

D. 6%

Correct Answer: Option A

Explanation:
2000(1+r)² = 2205 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest