The difference between compound interest and simple interest on Rs. 1600 for 2 years at 5% is: MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 9000 at 8% per annum for 2 years.
Correct Answer: Option B
Explanation:
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.
This question belongs to:
Maths
Compound Interest
Question #2
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In how many years will Rs. 800 amount to Rs. 882 at 5% per annum compound interest?
Correct Answer: Option D
Explanation:
800(1.05)^t = 882 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.
800(1.05)^t = 882 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 9800 for 2 years at 10% is:
Correct Answer: Option D
Explanation:
D = 9800 × 0.01 = Rs. 98.
D = 9800 × 0.01 = Rs. 98.
This question belongs to:
Maths
Compound Interest
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