Multiple Choice Questions on The difference between the compound interest and simple interest for the amount Rs 5000 in 2 years i........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between the compound interest and simple interest for the amount Rs 5000 in 2 years i...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between the compound interest and simple interest for the amount Rs. 5000 in 2 years is Rs. 32. The rate of interest is

    5%

    Incorrect Answer

    8%

    Correct Answer

    10%

    Incorrect Answer

    12%

    Incorrect Answer
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    Explanation:

    Principal = Rs. 5000, Time = 2 years
    Let Rate = R%
    Difference between CI and SI
    Rs. 32
    By using formula,
    Principal = (difference × 1002)/R2
    5000 = 32 × 1002/R2
    R2 = (32 × 10000)/5000 = 64
    =R = 8%
    Hence, Required Rate% = 8 %

    By: Pranav Gupta
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