The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 16

B. Rs. 18

C. Rs. 22

D. Rs. 20

Answer: Option D

Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 5% per annum is Rs. 36. Find the sum.

A. Rs. 15000

B. Rs. 12000

C. Rs. 16000

D. Rs. 14400

Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 36 = P * (5/100)^2 => 36 = P * (25 / 10000) => P = (36 * 10000) / 25 = 14400.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum.

A. Rs. 40000

B. Rs. 48000

C. Rs. 44000

D. Rs. 36000

Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent compound interest will Rs. 800 amount to Rs. 968 in 2 years?

A. 10%

B. 12%

C. 8%

D. 15%

Correct Answer: Option A

Explanation:
800(1+r)² = 968 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest