Multiple Choice Questions on The difference between compound interest compounded every 6 months and simple interest after 2 years........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between compound interest compounded every 6 months and simple interest after 2 years...........

Quant (SSC) Compound Interest
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    The difference between compound interest compounded every 6 months and simple interest after 2 years is 248.10. The rate of interest is 10 percent. Find the sum

    12000

    Incorrect Answer

    14000

    Incorrect Answer

    16000

    Correct Answer

    18000

    Incorrect Answer
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    Explanation:

    P*(1+5/100)^4 – P – P*(10/100)*2 = 248.10
    P = 16000

    By: Amit Kumar
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