The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is:

A. Rs. 4.00

B. Rs. 3.20

C. Rs. 4.80

D. Rs. 3.60

Answer: Option B

Solution (By JKSSB Mock Tests)

D = 2000 × (0.04)² = 2000 × 0.0016 = Rs. 3.20.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent per annum will Rs. 20000 amount to Rs. 23328 in 2 years, compound interest compounded annually?

A. 10%

B. 12%

C. 6%

D. 8%

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Correct Answer: Option D

Explanation:
Amount/Principal = 23328 / 20000 = 11664 / 10000 = (108 / 100)^2. Therefore, 1 + R/100 = 1.08 => R = 8%.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent per annum will Rs. 10000 amount to Rs. 11664 in 2 years, compound interest compounded annually?

A. 8%

B. 6%

C. 12%

D. 10%

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Correct Answer: Option A

Explanation:
Amount/Principal = 11664 / 10000. Taking square root: sqrt(11664/10000) = 108 / 100 = 1.08. Therefore, 1 + R/100 = 1.08 => R = 8%.

This question belongs to: Maths Compound Interest

Question #3

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 144. Find the sum.

A. Rs. 36000

B. Rs. 40000

C. Rs. 44000

D. Rs. 48000

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Correct Answer: Option B

Explanation:
Difference for 2 years = P * (R/100)^2 => 144 = P * (6/100)^2 => 144 = P * (36 / 10000) => P = (144 * 10000) / 36 = Rs. 40000.

This question belongs to: Maths Compound Interest

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