Multiple Choice Questions on The difference between the compound interest and simple interest on a certain sum for 2 years at 10 ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between the compound interest and simple interest on a certain sum for 2 years at 10 ...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between the compound interest and simple interest on a certain sum for 2 years at 10% per annum is Rs. 300. Find the sum

    Rs. 31000

    Incorrect Answer

    Rs. 31500

    Incorrect Answer

    Rs. 30000

    Correct Answer

    Rs. 30500

    Incorrect Answer
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    Explanation:

    Rate% = 10%, Time = 2 years
    Effective Rate% of CI for 2 years = 10 + 10 (10 × 10)/100 = 21%
    Effective Rate % of SI for 2 year = 2 × 10 = 20%
    Account to the question,
    1 % of sum = Rs. 300
    Sum = Rs. 30000

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