The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% 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 6% per annum is Rs. 144. Find the sum.

A. Rs. 44000

B. Rs. 36000

C. Rs. 40000

D. Rs. 48000

Answer: Option C

Difference for 2 years = P * (R/100)^2 => 144 = P * (6/100)^2 => 144 = P * (36 / 10000) => P = (144 * 10000) / 36 = Rs. 40000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

Find the compound interest on Rs. 4500 at 8% per annum for 2 years.

A. Rs. 748.80

B. Rs. 752.40

C. Rs. 756.00

D. Rs. 760.00

Correct Answer: Option A

Explanation:
A = 4500 × (1.08)² = 4500 × 1.1664 = 5248.80, CI = 5248.80 − 4500 = Rs. 748.80.

This question belongs to: Maths Compound Interest

Question #2 Report Error

At what rate percent compound interest will Rs. 20000 amount to Rs. 22050 in 2 years?

A. 7%

B. 4%

C. 6%

D. 5%

Correct Answer: Option D

Explanation:
20000(1+r)² = 22050 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 7700 for 2 years at 10% is:

A. Rs. 70

B. Rs. 77

C. Rs. 74

D. Rs. 80

Correct Answer: Option B

Explanation:
D = 7700 × 0.01 = Rs. 77.

This question belongs to: Maths Compound Interest