The difference between CI and SI on Rs. 9000 for 2 years at 6% is: MCQ with Answer and Explanation

Question Report Error

The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 28.80

B. Rs. 30.00

C. Rs. 32.40

D. Rs. 34.20

Answer: Option C

Solution (By JKExamLibrary)

D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

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

A. Rs. 1794

B. Rs. 1638

C. Rs. 1716

D. Rs. 1872

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Correct Answer: Option B

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

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the compound interest on Rs. 500 at 10% per annum for 2 years.

A. Rs. 110

B. Rs. 105

C. Rs. 100

D. Rs. 115

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Correct Answer: Option B

Explanation:
A = 500 × 1.21 = 605, CI = 605 − 500 = Rs. 105.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The effective annual rate for 20% per annum compounded half-yearly is:

A. 21%

B. 20.5%

C. 22%

D. 21.5%

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
Half-yearly rate 10%, (1.1)² = 1.21, effective = 21%.

This question belongs to: Maths Compound Interest

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