The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 18

B. Rs. 22

C. Rs. 16

D. Rs. 20

Answer: Option D

Solution (By JKSSB Mock Tests)

Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

This question belongs to: Maths Compound Interest

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Question #1

The difference between CI and SI on Rs. 8400 for 2 years at 5% is:

A. Rs. 18

B. Rs. 21

C. Rs. 20

D. Rs. 19

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Correct Answer: Option B

Explanation:
D = 8400 × 0.0025 = Rs. 21.

This question belongs to: Maths Compound Interest

Question #2

What sum will produce Rs. 410 as compound interest in 2 years at 5% per annum?

A. Rs. 4000

B. Rs. 4400

C. Rs. 4200

D. Rs. 3800

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Correct Answer: Option A

Explanation:
P = 410 / [(1.05)² − 1] = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 15625 for 9 months at 16% per annum, compounded quarterly.

A. Rs. 2100

B. Rs. 1850

C. Rs. 2000

D. Rs. 1951

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Correct Answer: Option D

Explanation:
Quarterly rate = 16 / 4 = 4%. Time = 9 months = 3 quarters. Amount = 15625 * (1 + 4/100)^3 = 15625 * (26/25)^3 = 15625 * (17576 / 15625) = Rs. 17576. Compound Interest = 17576 - 15625 = Rs. 1951.

This question belongs to: Maths Compound Interest

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