The difference between simple and compound interest on a sum of money for 2 years at 10% per annum is Rs. 65. Find the sum. MCQ with Answer and Explanation

Question

The difference between simple and compound interest on a sum of money for 2 years at 10% per annum is Rs. 65. Find the sum.

A. Rs. 6500

B. Rs. 7500

C. Rs. 6000

D. Rs. 7000

Answer: Option A

Solution (By JKSSB Mock Tests)

Difference for 2 years = P * (R/100)^2 => 65 = P * (10/100)^2 => 65 = P * 0.01 => P = 65 / 0.01 = Rs. 6500.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

A. 8 years

B. 12 years

C. 6 years

D. 9 years

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Correct Answer: Option C

Explanation:
The sum becomes 3 times in 3 years. It will become 3^2 = 9 times in 2 * 3 = 6 years.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 4000 at 10% per annum for 1 year compounded half-yearly is:

A. Rs. 410

B. Rs. 440

C. Rs. 420

D. Rs. 400

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Correct Answer: Option A

Explanation:
A = 4000 × (1.05)² = 4000 × 1.1025 = 4410, CI = 4410 − 4000 = Rs. 410.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on a sum for 2 years at 4% is Rs. 408. The sum is:

A. Rs. 4800

B. Rs. 5400

C. Rs. 5200

D. Rs. 5000

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Correct Answer: Option D

Explanation:
CI = P[(1.04)² − 1] = P × 0.0816 = 408 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

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