The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is:

A. Rs. 25

B. Rs. 30

C. Rs. 35

D. Rs. 20

Answer: Option A

6.25% = 1/16. D = P × (R/100)² = 6400 × (1/16)² = 6400 × 1/256 = Rs. 25.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?

A. 9 years

B. 6 years

C. 7 years

D. 12 years

Correct Answer: Option A

Explanation:
512 = 8³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

In how many years will Rs. 1200 amount to Rs. 1323 at 5% per annum compound interest?

A. 1.5 years

B. 2 years

C. 2.5 years

D. 3 years

Correct Answer: Option B

Explanation:
1200(1.05)^t = 1323 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest doubles in 7 years. In how many years will it become 8 times?

A. 28 years

B. 14 years

C. 21 years

D. 35 years

Correct Answer: Option C

Explanation:
Doubles in 7 years, 8 = 2³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest