The difference between simple interest and compound interest on a certain sum of money for 2 years at 9% per annum is Rs. 81. 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 9% per annum is Rs. 81. Find the sum.

A. Rs. 10000

B. Rs. 9000

C. Rs. 12000

D. Rs. 11000

Answer: Option A

Solution (By JKSSB Mock Tests)

Difference for 2 years = P * (R/100)^2 => 81 = P * (9/100)^2 => 81 = P * (81 / 10000) => P = Rs. 10000.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 6% is Rs. 360. The compound interest for the same period and rate is:

A. Rs. 378.00

B. Rs. 372.00

C. Rs. 370.80

D. Rs. 375.00

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Correct Answer: Option C

Explanation:
P = 36000/(6×2) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 1 year at 8% compounded half-yearly is Rs. 408. The sum is:

A. Rs. 5200

B. Rs. 4800

C. Rs. 5400

D. Rs. 5000

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Correct Answer: Option D

Explanation:
A = P(1.04)² = P × 1.0816. CI = P × 0.0816 = 408 ⇒ P = 408 / 0.0816 = 5000.

This question belongs to: Maths Compound Interest

Question #3

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In how many years will Rs. 4000 amount to Rs. 4410 at 5% per annum compound interest?

A. 2 years

B. 2.5 years

C. 1.5 years

D. 1 year

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Correct Answer: Option A

Explanation:
4000(1.05)^t = 4410 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

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