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. 12

C. Rs. 18

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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What sum will produce Rs. 204 as compound interest in 2 years at 4% per annum?

A. Rs. 2400

B. Rs. 2600

C. Rs. 2500

D. Rs. 2700

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Correct Answer: Option C

Explanation:
P = 204 / 0.0816 = 2500.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?

A. 40 years

B. 30 years

C. 45 years

D. 35 years

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Correct Answer: Option D

Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.

This question belongs to: Maths Compound Interest

Question #3

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A sum amounts to Rs. 1331 in 3 years and Rs. 1464.10 in 4 years at compound interest. Find the sum.

A. Rs. 1100

B. Rs. 1000

C. Rs. 900

D. Rs. 800

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Correct Answer: Option B

Explanation:
Rate = (1464.10/1331 − 1) × 100 = 10%. P = 1331 / (1.1)³ = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

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