Multiple Choice Questions on The difference between compound interest and simple interest on Rs 2500 for 2 years at 4 per annum i........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between compound interest and simple interest on Rs 2500 for 2 years at 4 per annum i...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between compound interest and simple interest on Rs. 2500 for 2 years at 4% per annum is

    Rs. 40

    Incorrect Answer

    Rs. 45

    Incorrect Answer

    Rs. 14

    Incorrect Answer

    Rs. 4

    Correct Answer
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    Explanation:

    Rate% for 2 years CI.
    = 4 + 4 + (4 × 4)/100 = 8.16%
    Rate% for 2 years SI = (4 + 4) = 8%
    Required difference = (8.16 - 8)% = 0.16%
    Required difference = 2500 × 0.16/100 = Rs. 4

    Alternate:
    For t = 2 years
    CI - SI = P (R/100)2
    = 2500 (4/100)2
    = Rs. 4

    By: Pranav Gupta
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