The difference between simple interest and compound interest on a certain sum of money for 2 years at 15% per annum is Rs. 144. Find the sum. MCQ with Answer and Explanation

The difference between simple interest and compound interest on a certain sum of money for 2 years at 15% per annum is Rs. 144. Find the sum.

A. Rs. 7200

B. Rs. 6800

C. Rs. 6000

D. Rs. 6400

Answer: Option D

Difference for 2 years = P * (R/100)^2 => 144 = P * (15/100)^2 => 144 = P * (225 / 10000) => P = (144 * 10000) / 225 = 1440000 / 225 = Rs. 6400.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money becomes Rs. 11025 in 2 years at 5% compound interest. The sum is:

A. Rs. 9500

B. Rs. 10000

C. Rs. 10500

D. Rs. 11000

Correct Answer: Option B

Explanation:
P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between simple interest and compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 100. Find the sum.

A. Rs. 12000

B. Rs. 11000

C. Rs. 10000

D. Rs. 9000

Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 => 100 = P * (10/100)^2 => 100 = P * 0.01 => P = Rs. 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 10000 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 1000

B. Rs. 1100

C. Rs. 1025

D. Rs. 1050

Correct Answer: Option C

Explanation:
Half-yearly rate = 5%, n = 2. A = 10000 × (1.05)² = 10000 × 1.1025 = 11025, CI = 11025 − 10000 = Rs. 1025.

This question belongs to: Maths Compound Interest