The difference between CI and SI on Rs. 6800 for 2 years at 10% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 6800 for 2 years at 10% is:

A. Rs. 60

B. Rs. 68

C. Rs. 65

D. Rs. 70

Answer: Option B

D = 6800 × 0.01 = Rs. 68.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on a sum for 2 years at 11% is Rs. 464.20. The sum is:

A. Rs. 1900

B. Rs. 2000

C. Rs. 2100

D. Rs. 1800

Correct Answer: Option B

Explanation:
CI = P[(1.11)² − 1] = P × 0.2321 = 464.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 64 times of itself?

A. 35 years

B. 40 years

C. 30 years

D. 25 years

Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 5 years. It will become 64 (2^6) times in 6 * 5 = 30 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 3900 at 10% per annum for 2 years is:

A. Rs. 897

B. Rs. 858

C. Rs. 780

D. Rs. 819

Correct Answer: Option D

Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.

This question belongs to: Maths Compound Interest