The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is:

A. Rs. 20

B. Rs. 35

C. Rs. 30

D. Rs. 25

Answer: Option D

Solution (By JKSSB Mock Tests)

6.25% = 1/16. D = P × (R/100)² = 6400 × (1/16)² = 6400 × 1/256 = Rs. 25.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The compound interest on Rs. 3000 at 5% per annum for 3 years is:

A. Rs. 472.50

B. Rs. 475.00

C. Rs. 478.00

D. Rs. 472.875

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Correct Answer: Option D

Explanation:
A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.

This question belongs to: Maths Compound Interest

Question #2

Find the compound interest on Rs. 50000 for 1 year at 8% per annum, compounded quarterly.

A. Rs. 4121.61

B. Rs. 4000.00

C. Rs. 4310.20

D. Rs. 4200.00

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Correct Answer: Option A

Explanation:
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 50000 * (1 + 2/100)^4 = 50000 * (1.02)^4 = 50000 * 1.08243216 = Rs. 54121.61. Compound Interest = 54121.61 - 50000 = Rs. 4121.61.

This question belongs to: Maths Compound Interest

Question #3

What is the compound interest on Rs. 30000 for 1 year at 16% per annum, compounded half-yearly?

A. Rs. 5200

B. Rs. 5100

C. Rs. 4992

D. Rs. 4800

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Correct Answer: Option C

Explanation:
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 30000 * (1 + 8/100)^2 = 30000 * 1.1664 = Rs. 34992. Compound Interest = 34992 - 30000 = Rs. 4992.

This question belongs to: Maths Compound Interest

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