The difference between compound interest and simple interest on Rs. 1500 for 2 years at 10% per annum is: MCQ with Answer and Explanation

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The difference between compound interest and simple interest on Rs. 1500 for 2 years at 10% per annum is:

A. Rs. 10

B. Rs. 15

C. Rs. 20

D. Rs. 25

Answer: Option B

Solution (By JKSSB Mock Tests)

Difference = P × (R/100)² = 1500 × (0.1)² = 1500 × 0.01 = Rs. 15.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 6% per annum is Rs. 144. Find the sum.

A. Rs. 40000

B. Rs. 36000

C. Rs. 44000

D. Rs. 48000

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Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 144 = P * (6/100)^2 => 144 = P * (36 / 10000) => P = (144 * 10000) / 36 = Rs. 40000.

This question belongs to: Maths Compound Interest

Question #2

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

A. Rs. 3500

B. Rs. 3200

C. Rs. 3000

D. Rs. 2800

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Correct Answer: Option C

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

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is:

A. Rs. 14000

B. Rs. 15000

C. Rs. 13000

D. Rs. 12000

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Correct Answer: Option B

Explanation:
D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest

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