The difference between the simple interest and compound interest on a certain sum of money for 2 years at 12% per annum is Rs. 72. Find the sum. MCQ with Answer and Explanation

Question

The difference between the simple interest and compound interest on a certain sum of money for 2 years at 12% per annum is Rs. 72. Find the sum.

A. Rs. 4500

B. Rs. 5500

C. Rs. 5000

D. Rs. 6000

Answer: Option C

Solution (By JKSSB Mock Tests)

Difference for 2 years = P * (R/100)^2 => 72 = P * (12/100)^2 => 72 = P * (144 / 10000) => P = (72 * 10000) / 144 = 5000.

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

The compound interest on Rs. 3400 at 10% per annum for 2 years is:

A. Rs. 800

B. Rs. 780

C. Rs. 714

D. Rs. 748

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
A = 3400 × 1.21 = 4114, CI = 4114 − 3400 = Rs. 714.

This question belongs to: Maths Compound Interest

Question #2

Share Report

What sum will amount to Rs. 1323 in 2 years at 5% compound interest?

A. Rs. 1250

B. Rs. 1200

C. Rs. 1150

D. Rs. 1300

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
P = 1323 / 1.1025 = 1200.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The simple interest on a sum for 2 years at 8% is Rs. 480. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 512.00

B. Rs. 499.20

C. Rs. 508.80

D. Rs. 502.40

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
P = 48000/(8×2) = 3000. CI = 3000[(1.08)² − 1] = 3000 × 0.1664 = Rs. 499.20.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs