The difference between compound interest and simple interest on a sum for 2 years at 8% is Rs. 32. The sum is: MCQ with Answer and Explanation

The difference between compound interest and simple interest on a sum for 2 years at 8% is Rs. 32. The sum is:

A. Rs. 5500

B. Rs. 4500

C. Rs. 5000

D. Rs. 4000

Answer: Option C

D = P × (0.08)² = P × 0.0064 = 32 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

What sum will amount to Rs. 14520 in 2 years at 10% per annum compound interest?

A. Rs. 13000

B. Rs. 11000

C. Rs. 14000

D. Rs. 12000

Correct Answer: Option D

Explanation:
P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 6000 for 2 years at 5% is:

A. Rs. 12

B. Rs. 18

C. Rs. 15

D. Rs. 20

Correct Answer: Option C

Explanation:
D = 6000 × (0.05)² = 6000 × 0.0025 = Rs. 15.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the amount on Rs. 8000 at 10% per annum compound interest for 3 years.

A. Rs. 11000

B. Rs. 10648

C. Rs. 11200

D. Rs. 10800

Correct Answer: Option B

Explanation:
A = 8000 × (1.1)³ = 8000 × 1.331 = 10648.

This question belongs to: Maths Compound Interest