What will be the compound interest on Rs. 7500 at 4% per annum for 2 years? MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on Rs. 25000 for 2 years at 4% is:
Correct Answer: Option D
Explanation:
D = 25000 × (0.04)² = 25000 × 0.0016 = Rs. 40.
D = 25000 × (0.04)² = 25000 × 0.0016 = Rs. 40.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between simple interest and compound interest on a certain sum of money for 2 years at 8% per annum is Rs. 128. Find the sum.
Correct Answer: Option C
Explanation:
Difference for 2 years = P * (R/100)^2 => 128 = P * (8/100)^2 => 128 = P * (64 / 10000) => P = (128 * 10000) / 64 = Rs. 20000.
Difference for 2 years = P * (R/100)^2 => 128 = P * (8/100)^2 => 128 = P * (64 / 10000) => P = (128 * 10000) / 64 = Rs. 20000.
This question belongs to:
Maths
Compound Interest
Question #3
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The simple interest on a sum for 2 years at 6% is Rs. 480. The compound interest on the same sum for 2 years at 6% is:
Correct Answer: Option C
Explanation:
P = 48000/(6×2) = 4000. CI = 4000[(1.06)² − 1] = 4000 × 0.1236 = Rs. 494.40.
P = 48000/(6×2) = 4000. CI = 4000[(1.06)² − 1] = 4000 × 0.1236 = Rs. 494.40.
This question belongs to:
Maths
Compound Interest
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