The difference between CI and SI on Rs. 1000 for 2 years at 10% is: MCQ with Answer and Explanation

Question

Share Report Error

The difference between CI and SI on Rs. 1000 for 2 years at 10% is:

A. Rs. 9

B. Rs. 10

C. Rs. 11

D. Rs. 8

Answer: Option B

Solution (By JKSSB Mock Tests)

D = 1000 × 0.01 = Rs. 10.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

Find the principal that yields a compound interest of Rs. 410 in 2 years at 5% per annum.

A. Rs. 4000

B. Rs. 3800

C. Rs. 4200

D. Rs. 4400

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
CI = P[(1.05)² − 1] = P × 0.1025 = 410 ⇒ P = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #2

Share Report

The compound interest on a certain sum for 2 years at 5% per annum is Rs. 820. Find the principal sum.

A. Rs. 7500

B. Rs. 8000

C. Rs. 8500

D. Rs. 9000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 820 => P = 820 / 0.1025 = Rs. 8000.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The compound interest on a sum for 2 years at 10% is Rs. 420. The sum is:

A. Rs. 2100

B. Rs. 1800

C. Rs. 2000

D. Rs. 1900

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
CI = P[(1.1)² − 1] = 0.21P = 420 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs