The difference between CI and SI on Rs. 1300 for 2 years at 10% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 1300 for 2 years at 10% is:

A. Rs. 14

B. Rs. 13

C. Rs. 15

D. Rs. 12

Answer: Option B

Solution (By JKSSB Mock Tests)

D = 1300 × 0.01 = Rs. 13.

This question belongs to: Maths Compound Interest

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Question #1

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Find the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 1255.09

B. Rs. 1200.00

C. Rs. 1280.00

D. Rs. 1262.00

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Correct Answer: Option A

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 10000 * (1 + 3/100)^4 = 10000 * (1.03)^4 = 10000 * 1.12550881 = Rs. 11255.09. Compound Interest = 11255.09 - 10000 = Rs. 1255.09.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 12000 at 5% per annum for 2 years is:

A. Rs. 1260

B. Rs. 1230

C. Rs. 1200

D. Rs. 1290

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Correct Answer: Option B

Explanation:
A = 12000 × (1.05)² = 12000 × 1.1025 = 13230, CI = 13230 − 12000 = Rs. 1230.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest doubles in 10 years. In how many years will it become 8 times?

A. 20 years

B. 30 years

C. 40 years

D. 25 years

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Correct Answer: Option B

Explanation:
Doubles in 10 years, 8 = 2³, so time = 10 × 3 = 30 years.

This question belongs to: Maths Compound Interest

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