The difference between CI and SI on Rs. 9600 for 2 years at 5% is: MCQ with Answer and Explanation

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The difference between CI and SI on Rs. 9600 for 2 years at 5% is:

A. Rs. 20

B. Rs. 26

C. Rs. 22

D. Rs. 24

Answer: Option D

Solution (By JKSSB Mock Tests)

D = 9600 × 0.0025 = Rs. 24.

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. 10000 amount to Rs. 12100 in 2 years?

A. 15%

B. 10%

C. 8%

D. 12%

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Correct Answer: Option B

Explanation:
10000(1+r)² = 12100 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?

A. 45 years

B. 35 years

C. 40 years

D. 30 years

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Correct Answer: Option B

Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.

This question belongs to: Maths Compound Interest

Question #3

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What sum will amount to Rs. 11664 in 2 years at 8% compound interest?

A. Rs. 9500

B. Rs. 10500

C. Rs. 10000

D. Rs. 11000

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Correct Answer: Option C

Explanation:
P = 11664 / (1.08)² = 11664 / 1.1664 = 10000.

This question belongs to: Maths Compound Interest

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