The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum. MCQ with Answer and Explanation

Question

The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs. 64. Find the sum.

A. Rs. 40000

B. Rs. 36000

C. Rs. 48000

D. Rs. 44000

Answer: Option A

Solution (By JKSSB Mock Tests)

Difference for 2 years = P * (R/100)^2 => 64 = P * (4/100)^2 => 64 = P * (16 / 10000) => P = (64 * 10000) / 16 = Rs. 40000.

This question belongs to: Maths Compound Interest

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Question #1

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The population of a town increases at 10% per annum. If the present population is 20000, what will it be after 2 years?

A. 24600

B. 24400

C. 24200

D. 24000

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Correct Answer: Option C

Explanation:
Population = 20000 × (1.1)² = 20000 × 1.21 = 24200.

This question belongs to: Maths Compound Interest

Question #2

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The difference between compound interest and simple interest on Rs. 12500 for 2 years is Rs. 20. Find the rate of interest per annum.

A. 6%

B. 5%

C. 3%

D. 4%

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Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 => 20 = 12500 * (R/100)^2 => 20 = 12500 * R^2 / 10000 => 20 = 1.25 * R^2 => R^2 = 20 / 1.25 = 16 => R = 4%.

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI on Rs. 1000 for 2 years at 10% is:

A. Rs. 11

B. Rs. 10

C. Rs. 9

D. Rs. 8

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Correct Answer: Option B

Explanation:
D = 1000 × 0.01 = Rs. 10.

This question belongs to: Maths Compound Interest

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