Multiple Choice Questions on The difference between compound interest and simple interest at the same rate of interest R percent ........... 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 percent ...........

Quantitative Aptitude (CDS) Compound Interest
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    The difference between compound interest and simple interest at the same rate of interest R percent per annum on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the value of R?

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    Explanation:

    CI- SI=P(R/100)2
    15000(R/100)2=96
    15000(R2/10000)=96
    3(R2/2)=96
    R2=64
    R=8
    Rate of interest per annum = 8%

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