The simple interest on a sum for 3 years at 12% is Rs. 432. The compound interest on the same sum for 2 years at 12% is: MCQ with Answer and Explanation

Question

The simple interest on a sum for 3 years at 12% is Rs. 432. The compound interest on the same sum for 2 years at 12% is:

A. Rs. 303.36

B. Rs. 310

C. Rs. 300

D. Rs. 305.28

Answer: Option D

Solution (By JKSSB Mock Tests)

P = 43200/(12×3) = 43200/36 = 1200. CI = 1200[(1.12)² − 1] = 1200 × 0.2544 = 305.28.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 32.40

B. Rs. 28.80

C. Rs. 30.00

D. Rs. 34.20

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Correct Answer: Option A

Explanation:
D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

Question #2

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At what rate will Rs. 8000 amount to Rs. 9261 in 3 years at compound interest?

A. 4%

B. 8%

C. 6%

D. 5%

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Correct Answer: Option D

Explanation:
8000(1+r)³ = 9261 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on Rs. 15000 at 10% per annum compounded half-yearly for 1 year is:

A. Rs. 1500

B. Rs. 1600

C. Rs. 1537.50

D. Rs. 1575

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Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=2. A = 15000 × (1.05)² = 15000 × 1.1025 = 16537.50, CI = 16537.50 − 15000 = Rs. 1537.50.

This question belongs to: Maths Compound Interest

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