The difference between CI and SI on Rs. 8800 for 2 years at 5% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 8800 for 2 years at 5% is:

A. Rs. 22

B. Rs. 24

C. Rs. 20

D. Rs. 18

Answer: Option A

D = 8800 × 0.0025 = Rs. 22.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

Find the difference between compound interest and simple interest on Rs. 5000 for 2 years at 8% per annum.

A. Rs. 36

B. Rs. 40

C. Rs. 32

D. Rs. 42

Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 = 5000 * (8/100)^2 = 5000 * (64 / 10000) = Rs. 32.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 7800 at 10% per annum for 2 years is:

A. Rs. 1794

B. Rs. 1716

C. Rs. 1872

D. Rs. 1638

Correct Answer: Option D

Explanation:
A = 7800 × 1.21 = 9438, CI = 9438 − 7800 = Rs. 1638.

This question belongs to: Maths Compound Interest

Question #3 Report Error

In what time will Rs. 1000 amount to Rs. 1331 at 10% per annum compound interest?

A. 2 years

B. 3 years

C. 3.5 years

D. 2.5 years

Correct Answer: Option B

Explanation:
1000 × (1.1)^t = 1331 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3 years.

This question belongs to: Maths Compound Interest