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. 11000

B. Rs. 10000

C. Rs. 9000

D. Rs. 12000

Answer: Option B

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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Find the compound interest on Rs. 24000 at 5% per annum for 2 years.

A. Rs. 2580

B. Rs. 2460

C. Rs. 2520

D. Rs. 2400

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Correct Answer: Option B

Explanation:
A = 24000 × 1.1025 = 26460, CI = 26460 − 24000 = Rs. 2460.

This question belongs to: Maths Compound Interest

Question #2

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What sum will amount to Rs. 1331 in 3 years at 10% compound interest?

A. Rs. 900

B. Rs. 1000

C. Rs. 1100

D. Rs. 1200

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Correct Answer: Option B

Explanation:
P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

Question #3

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The difference between simple interest and compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 100. Find the sum.

A. Rs. 12000

B. Rs. 9000

C. Rs. 10000

D. Rs. 11000

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Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 => 100 = P * (10/100)^2 => 100 = P * 0.01 => P = Rs. 10000.

This question belongs to: Maths Compound Interest

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