The difference between CI and SI on Rs. 3600 for 2 years at 5% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 3600 for 2 years at 5% is:

A. Rs. 9.00

B. Rs. 8.00

C. Rs. 7.20

D. Rs. 10.00

Answer: Option A

Solution (By JKSSB Mock Tests)

D = 3600 × 0.0025 = Rs. 9.

This question belongs to: Maths Compound Interest

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Question #1

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Find the compound interest on Rs. 9000 at 8% per annum for 2 years.

A. Rs. 1512

B. Rs. 1497.60

C. Rs. 1524.80

D. Rs. 1500

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Correct Answer: Option B

Explanation:
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 3 times in 5 years. In how many years will it become 9 times?

A. 8 years

B. 15 years

C. 12 years

D. 10 years

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Correct Answer: Option D

Explanation:
3 times in 5 years; 9 = 3² ⇒ 5 × 2 = 10 years.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 20000 for 1 year at 16% per annum, compounded half-yearly.

A. Rs. 3500

B. Rs. 3400

C. Rs. 3328

D. Rs. 3200

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Correct Answer: Option C

Explanation:
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 20000 * (1 + 8/100)^2 = 20000 * 1.1664 = Rs. 23328. Compound Interest = 23328 - 20000 = Rs. 3328.

This question belongs to: Maths Compound Interest

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