1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum
1. Rs 600
2. Rs 625
3. Rs 650
4. Rs 675
5. None of these
Answer & Explanation Answer:- 2 Explanation :- The difference between CI and SI on Rs. P for 2 years at R% per annum = P*(R/100)^2 2. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases. Answer & Explanation Answer:- 4 Explanation :- Difference in C.I and S.I for 2 years = Rs(696.30-660) = Rs. 36.30. 3. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time? Answer & Explanation Answer:- 1 Explanation :- S.I.= (P∗R∗T)/100 4. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum? Answer & Explanation Answer:- 1 Explanation :- Difference between CI & SI for 2 Years = P(R/100)^2
P(R/100)^2 = 1,
P(4/100)^2 = 1
P(1/25)^2 = 1
P(1/625) = 1
P = 625
1. 8%
2. 9%
3. 10%
4. 11%
5. None of these
S.I for 1 year = Rs. 660/2 = Rs. 330.
S.I on Rs.330 for 1 year = Rs. 36.30
R% of 330 = Rs. 36.30
R = (36.30/330) *100
R = 11%
1. Rs. 51.25
2. Rs. 52
3. Rs. 54.25
4. Rs. 60
5. None of these
P = (50∗100)/(5∗2) = Rs.500
Amount = 500(1+5/100)^2 = 500 * (21/20) ∗ (21/20) =Rs. 551.25
C.I.= 551.25 − 500 = Rs. 51.25
1.8
2.10
3.12
4.Cannot be determined
5.None of these
P(R/100)^2 = Rs. 96
15000 * (R^2) / 10000 = Rs. 96
R^2 = 96 *10000/15000
R^2 = 96*2/3
R^2 = 64
R = 8%