The difference between CI and SI on Rs. 4800 for 2 years at 7.5% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 4800 for 2 years at 7.5% is:

A. Rs. 30

B. Rs. 27

C. Rs. 33

D. Rs. 24

Answer: Option B

Solution (By JKSSB Mock Tests)

7.5% = 3/40. D = 4800 × (3/40)² = 4800 × 9/1600 = 27.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest becomes 2 times in 3 years. In how many years will it become 32 times?

A. 12 years

B. 21 years

C. 18 years

D. 15 years

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Correct Answer: Option D

Explanation:
32 = 2⁵, so 3 × 5 = 15 years.

This question belongs to: Maths Compound Interest

Question #2

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The effective annual rate for 9% per annum compounded half-yearly is:

A. 9.10%

B. 9.20%

C. 9.25%

D. 9.30%

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Correct Answer: Option B

Explanation:
Half-yearly rate 4.5%, (1.045)² = 1.092025, effective = 9.2025% ≈ 9.20%.

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. 48000

B. Rs. 44000

C. Rs. 36000

D. Rs. 40000

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Correct Answer: Option D

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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