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. 9000

B. Rs. 11000

C. Rs. 10000

D. Rs. 12000

Answer: Option C

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

What sum will produce Rs. 410 as compound interest in 2 years at 5% per annum?

A. Rs. 3800

B. Rs. 4400

C. Rs. 4200

D. Rs. 4000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
P = 410 / [(1.05)² − 1] = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #2

Share Report

The compound interest on a sum for 3 years at 5% is Rs. 788.125. The sum is:

A. Rs. 5000

B. Rs. 6000

C. Rs. 5500

D. Rs. 4500

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
CI = P[(1.05)³ − 1] = P × 0.157625 = 788.125 ⇒ P = 788.125 / 0.157625 = 5000.

This question belongs to: Maths Compound Interest

Question #3

Share Report

A sum of money at compound interest doubles in 7 years. In how many years will it become 8 times?

A. 28 years

B. 35 years

C. 21 years

D. 14 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Doubles in 7 years, 8 = 2³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs