The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is: MCQ with Answer and Explanation

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The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is:

A. Rs. 13000

B. Rs. 14000

C. Rs. 12000

D. Rs. 15000

Answer: Option D

Solution (By JKSSB Mock Tests)

D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 1000

B. Rs. 1025

C. Rs. 1100

D. Rs. 1050

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Correct Answer: Option D

Explanation:
P = 100000/(10×2) = 5000. CI = 5000 × 0.21 = 1050.

This question belongs to: Maths Compound Interest

Question #2

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A sum amounts to Rs. 2662 in 3 years at 10% compound interest. The sum is:

A. Rs. 1800

B. Rs. 2200

C. Rs. 2000

D. Rs. 2400

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Correct Answer: Option C

Explanation:
P = 2662 / (1.1)³ = 2662 / 1.331 = 2000.

This question belongs to: Maths Compound Interest

Question #3

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In how many years will Rs. 1200 amount to Rs. 1389.15 at 5% compound interest?

A. 3 years

B. 3.5 years

C. 2.5 years

D. 2 years

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Correct Answer: Option A

Explanation:
1200(1.05)^t = 1389.15 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

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