Multiple Choice Questions on The difference between the compound interest and the simple interest for 2 years on a sum of money i........... for CAPF (AC) Exam Preparation

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Multiple Choice Questions

The difference between the compound interest and the simple interest for 2 years on a sum of money i...........

Quantitative Aptitude( Paper-I ) Compound Interest
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    The difference between the compound interest and the simple interest for 2 years on a sum of money is Rs. 60. If the simple interest for 2 years is Rs. 1440, what is the rate of interest ?

    This questions was previously asked in
    CAPF 2017 Paper-1
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    4%

    Incorrect Answer

    6%

    Incorrect Answer

    8%

    Incorrect Answer

    8(1/3)%

    Correct Answer
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    Explanation:

    Difference of CI and SI = 60
    SI of 2years = 1440
    SI of 1year = 720
    CI is 60 more than CI and 60 is interest on 720
    so
    R% = (60/720) x 100
    = 8(1/3)%

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