The difference between CI and SI on Rs. 7700 for 2 years at 10% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 7700 for 2 years at 10% is:

A. Rs. 74

B. Rs. 77

C. Rs. 80

D. Rs. 70

Answer: Option B

Solution (By JKSSB Mock Tests)

D = 7700 × 0.01 = Rs. 77.

This question belongs to: Maths Compound Interest

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Question #1

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In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest?

A. 2.5 years

B. 3 years

C. 2 years

D. 3.5 years

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Correct Answer: Option B

Explanation:
10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 2.56 times in 2 years. The rate of interest is:

A. 60%

B. 50%

C. 55%

D. 65%

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Correct Answer: Option A

Explanation:
(1+r)² = 2.56 ⇒ 1+r = 1.6 ⇒ r = 60%.

This question belongs to: Maths Compound Interest

Question #3

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Find the principal if the compound interest at 10% per annum for 2 years is Rs. 630.

A. Rs. 2800

B. Rs. 3000

C. Rs. 3500

D. Rs. 3200

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Correct Answer: Option B

Explanation:
CI = P × 0.21 = 630 ⇒ P = 630 / 0.21 = 3000.

This question belongs to: Maths Compound Interest

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