The difference between CI and SI on Rs. 3000 for 2 years at 6% is: MCQ with Answer and Explanation

Question

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The difference between CI and SI on Rs. 3000 for 2 years at 6% is:

A. Rs. 9.60

B. Rs. 10.00

C. Rs. 10.80

D. Rs. 11.20

Answer: Option C

Solution (By JKSSB Mock Tests)

D = 3000 × (0.06)² = 3000 × 0.0036 = Rs. 10.80.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate of compound interest per annum will a sum of Rs. 800 become Rs. 882 in 2 years?

A. 6%

B. 5%

C. 4%

D. 8%

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Correct Answer: Option B

Explanation:
800 × (1 + r)² = 882 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 5 times in 3 years. In how many years will it become 25 times?

A. 5 years

B. 6 years

C. 4 years

D. 9 years

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Correct Answer: Option B

Explanation:
5 times in 3 years; 25 = 5², so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI on Rs. 7500 for 2 years at 8% is:

A. Rs. 50

B. Rs. 42

C. Rs. 45

D. Rs. 48

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Correct Answer: Option D

Explanation:
D = 7500 × (0.08)² = 7500 × 0.0064 = Rs. 48.

This question belongs to: Maths Compound Interest

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