The difference between CI and SI on a sum for 2 years at 12% is Rs. 72. 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 12% is Rs. 72. The sum is:

A. Rs. 5000

B. Rs. 5500

C. Rs. 4500

D. Rs. 6000

Answer: Option A

Solution (By JKSSB Mock Tests)

D = P × (0.12)² = P × 0.0144 = 72 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest becomes 6 times in 3 years. In how many years will it become 36 times?

A. 6 years

B. 5 years

C. 4 years

D. 9 years

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Correct Answer: Option A

Explanation:
36 = 6², so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #2

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What is the compound interest on Rs. 20000 for 2 years if the rate of interest is 5% for the first year and 10% for the second year?

A. Rs. 3000

B. Rs. 3200

C. Rs. 3100

D. Rs. 3300

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Correct Answer: Option C

Explanation:
Amount = 20000 * (1 + 5/100) * (1 + 10/100) = 20000 * 1.05 * 1.10 = 20000 * 1.155 = Rs. 22100. Compound Interest = 22100 - 20000 = Rs. 2100.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 10000 at 8% per annum for 1 year compounded quarterly.

A. Rs. 800

B. Rs. 824.32

C. Rs. 832

D. Rs. 816

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Correct Answer: Option B

Explanation:
Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI ≈ Rs. 824.32.

This question belongs to: Maths Compound Interest

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