The difference between CI and SI on Rs. 7200 for 2 years at 10% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 7200 for 2 years at 10% is:

A. Rs. 80

B. Rs. 72

C. Rs. 60

D. Rs. 68

Answer: Option B

D = 7200 × 0.01 = Rs. 72.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

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

A. Rs. 14.00

B. Rs. 16.00

C. Rs. 13.50

D. Rs. 15.50

Correct Answer: Option D

Explanation:
D = 6200 × 0.0025 = Rs. 15.50.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The effective annual rate for 24% per annum compounded half-yearly is:

A. 25%

B. 25.44%

C. 26.50%

D. 26%

Correct Answer: Option B

Explanation:
Half-yearly rate 12%, (1.12)² = 1.2544, effective = 25.44%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 8% per annum is Rs. 128. Find the sum.

A. Rs. 24000

B. Rs. 18000

C. Rs. 22000

D. Rs. 20000

Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 128 = P * (8/100)^2 => 128 = P * (64 / 10000) => P = (128 * 10000) / 64 = Rs. 20000.

This question belongs to: Maths Compound Interest