Multiple Choice Questions on On what sum of money will the difference between S I and C I for 2 years at 5 per annum be equa........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

On what sum of money will the difference between S I and C I for 2 years at 5 per annum be equa...........

Quantitative Aptitude ( CCS) Compound Interest
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    On what sum of money will the difference between S.I and C.I for 2 years at 5% per annum be equal to Rs.25

    Rs. 10000

    Correct Answer

    Rs. 10500

    Incorrect Answer

    Rs. 9500

    Incorrect Answer

    Rs. 9000

    Incorrect Answer
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    Explanation:

    Rate % = 5% , time = 2 years
    Effective Rate % of CI for 2 years
    = 5 + 5 + (5 × 5)/100 = 10.25%
    Effective Rate% of SI for 3 years
    = 2 × 5 = 10%
    According to the question,
    (10.25 – 10)% of sum = Rs. 25
    Sum = 25/0.25/100 = Rs. 10000

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