The difference between CI and SI on Rs. 9800 for 2 years at 10% is: MCQ with Answer and Explanation

The difference between CI and SI on Rs. 9800 for 2 years at 10% is:

A. Rs. 90

B. Rs. 95

C. Rs. 98

D. Rs. 100

Answer: Option C

D = 9800 × 0.01 = Rs. 98.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

The compound interest on a sum for 3 years at 10% is Rs. 993. The sum is:

A. Rs. 3300

B. Rs. 3000

C. Rs. 3600

D. Rs. 2700

Correct Answer: Option B

Explanation:
CI = P[(1.1)³ − 1] = P × 0.331 = 993 ⇒ P = 993 / 0.331 = 3000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 900

B. Rs. 1050

C. Rs. 950

D. Rs. 1000

Correct Answer: Option D

Explanation:
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 3000 at 5% per annum for 3 years is:

A. Rs. 472.875

B. Rs. 472.50

C. Rs. 475.00

D. Rs. 478.00

Correct Answer: Option A

Explanation:
A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.

This question belongs to: Maths Compound Interest