Multiple Choice Questions on The difference between compound interest and simple interest at the same rate of interest R per cent........... for CDS Exam Preparation

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Multiple Choice Questions

The difference between compound interest and simple interest at the same rate of interest R per cent...........

Quantitative Aptitude (CDS) Simple Interest
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    The difference between compound interest and simple interest at the same rate of interest R per cent per annum on Rs. 15,000 for 2 years is Rs. 96.

    What is the value of R?

    8

    Correct Answer

    10

    Incorrect Answer

    12

    Incorrect Answer

    Cannot be determined due to insufficient data

    Incorrect Answer
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    Explanation:

    Difference =(P×R)/100

    ⇒ 96 =15000×R/100
    R = 96/150 =.64
    Option (a)
    Rate of interest for 2 year
    = 8+8+ (8+8/100) = 16.64
    Rate of interest for SI for two years = 2×8 = 16
    Diff = 16.64 – 16 =0.64

    By: Munesh Kumari
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