The difference between CI and SI on Rs. 5600 for 2 years at 5% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 5600 for 2 years at 5% is:

A. Rs. 16

B. Rs. 18

C. Rs. 12

D. Rs. 14

Answer: Option D

Solution (By JKSSB Mock Tests)

D = 5600 × 0.0025 = Rs. 14.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent compound interest will Rs. 1000 become Rs. 1728 in 3 years?

A. 20%

B. 25%

C. 18%

D. 15%

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Correct Answer: Option A

Explanation:
1000(1+r)³ = 1728 ⇒ (1+r)³ = 1.728 = (1.2)³ ⇒ r = 20%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 4 times in 3 years. In how many years will it become 16 times?

A. 6 years

B. 4 years

C. 5 years

D. 9 years

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Correct Answer: Option A

Explanation:
4² = 16, 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 a sum for 2 years at 8% is Rs. 64. The sum is:

A. Rs. 9000

B. Rs. 11000

C. Rs. 8000

D. Rs. 10000

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Correct Answer: Option D

Explanation:
D = P × 0.0064 = 64 ⇒ P = 10000.

This question belongs to: Maths Compound Interest

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