The difference between CI and SI on Rs. 5800 for 2 years at 5% is: MCQ with Answer and Explanation

Question

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The difference between CI and SI on Rs. 5800 for 2 years at 5% is:

A. Rs. 14.00

B. Rs. 15.00

C. Rs. 14.50

D. Rs. 13.50

Answer: Option C

Solution (By JKSSB Mock Tests)

D = 5800 × 0.0025 = Rs. 14.50.

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. 625 become Rs. 676 in 2 years?

A. 3%

B. 4%

C. 5%

D. 6%

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Correct Answer: Option B

Explanation:
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 1 year at 10% compounded half-yearly is Rs. 102.50. The sum is:

A. Rs. 950

B. Rs. 1100

C. Rs. 1050

D. Rs. 1000

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Correct Answer: Option D

Explanation:
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.

This question belongs to: Maths Compound Interest

Question #3

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The simple interest on a sum for 2 years at 15% is Rs. 600. The compound interest on the same sum for 2 years at 15% is:

A. Rs. 690

B. Rs. 660

C. Rs. 675

D. Rs. 645

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Correct Answer: Option D

Explanation:
P = 60000/(15×2) = 2000. CI = 2000[(1.15)² − 1] = 2000 × 0.3225 = 645.

This question belongs to: Maths Compound Interest

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