The difference between CI and SI on a sum for 2 years at 8% is Rs. 64. 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 8% is Rs. 64. The sum is:

A. Rs. 9000

B. Rs. 11000

C. Rs. 10000

D. Rs. 8000

Answer: Option C

Solution (By JKSSB Mock Tests)

D = P × 0.0064 = 64 ⇒ P = 10000.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 4000 at 10% per annum for 1 year compounded half-yearly is:

A. Rs. 440

B. Rs. 400

C. Rs. 410

D. Rs. 420

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Correct Answer: Option C

Explanation:
A = 4000 × (1.05)² = 4000 × 1.1025 = 4410, CI = 4410 − 4000 = Rs. 410.

This question belongs to: Maths Compound Interest

Question #2

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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. 12000

B. Rs. 14000

C. Rs. 13000

D. Rs. 15000

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Correct Answer: Option D

Explanation:
D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 1000

B. Rs. 1050

C. Rs. 900

D. Rs. 950

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Correct Answer: Option A

Explanation:
Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

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