The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 36. Find the sum. MCQ with Answer and Explanation

Question

The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 36. Find the sum.

A. Rs. 12000

B. Rs. 9000

C. Rs. 11000

D. Rs. 10000

Answer: Option D

Solution (By JKExamLibrary)

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

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 18000 for 2 years at 5% is:

A. Rs. 40

B. Rs. 55

C. Rs. 45

D. Rs. 50

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Correct Answer: Option C

Explanation:
D = 18000 × (0.05)² = 18000 × 0.0025 = Rs. 45.

This question belongs to: Maths Compound Interest

Question #2

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The population of a town increases at 10% per annum. If the present population is 20000, what will it be after 2 years?

A. 24600

B. 24000

C. 24200

D. 24400

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Correct Answer: Option C

Explanation:
Population = 20000 × (1.1)² = 20000 × 1.21 = 24200.

This question belongs to: Maths Compound Interest

Question #3

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The difference between compound interest and simple interest on Rs. 1500 for 2 years at 10% per annum is:

A. Rs. 10

B. Rs. 20

C. Rs. 15

D. Rs. 25

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Correct Answer: Option C

Explanation:
Difference = P × (R/100)² = 1500 × (0.1)² = 1500 × 0.01 = Rs. 15.

This question belongs to: Maths Compound Interest

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