Multiple Choice Questions on The difference between compound interest and simple interest for 2 yr at the rate of 10 over princip........... for CDS Exam Preparation

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Multiple Choice Questions

The difference between compound interest and simple interest for 2 yr at the rate of 10 over princip...........

Quantitative Aptitude (CDS) Compound Interest
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    The difference between compound interest and simple interest for 2 yr at the rate of 10% over principal amount of Rs.X is Rs. 10. What is the value

    of X?

    Rs. 100

    Incorrect Answer

    Rs. 1000

    Correct Answer

     Rs. 500

    Incorrect Answer

     Rs. 5000

    Incorrect Answer
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    Explanation:

    Rate of interest from CI= x+y+xy/100
    = 10+10+10∗10/100
    =21%
    SI =2×10 =20%
    Difference between rate of interest = 21-20 =1%
    Diff =p×1/100
    ⇒ 10 =p×1/100
    p=X= 1000

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