The difference between CI and SI on Rs. 6800 for 2 years at 10% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 6800 for 2 years at 10% is:

A. Rs. 70

B. Rs. 60

C. Rs. 68

D. Rs. 65

Answer: Option C

Solution (By JKSSB Mock Tests)

D = 6800 × 0.01 = Rs. 68.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent per annum will Rs. 20000 amount to Rs. 24200 in 2 years, compound interest compounded annually?

A. 8%

B. 10%

C. 12%

D. 14%

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Correct Answer: Option B

Explanation:
Amount/Principal = 24200 / 20000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years?

A. 3%

B. 5%

C. 6%

D. 4%

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Correct Answer: Option D

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

This question belongs to: Maths Compound Interest

Question #3

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A sum of money doubles itself at compound interest in 8 years. In how many years will it become 16 times?

A. 36 years

B. 24 years

C. 32 years

D. 28 years

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Correct Answer: Option C

Explanation:
2 times in 8 years, 16 = 2⁴, so 8 × 4 = 32 years.

This question belongs to: Maths Compound Interest

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