Multiple Choice Questions on The compound interest on a certain sum of money invested for 2 years at 5 per annum is Rs 328 The si........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The compound interest on a certain sum of money invested for 2 years at 5 per annum is Rs 328 The si...........

Quantitative Aptitude ( CCS) Compound Interest
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    The compound interest on a certain sum of money invested for 2 years at 5% per annum is Rs. 328. The simple interest on the sum, at the same rate and for the same period will be

    Rs. 320

    Correct Answer

    Rs. 308

    Incorrect Answer

    Rs. 300

    Incorrect Answer

    Rs. 287

    Incorrect Answer
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    Explanation:

    Rate % = 5 %
    Time = 2 years
    SI for 2 years = 5 × 2 = 10%
    CI for 2 years = 10.25 %
    According to the question,
    Required SI = 328/10.25 × 10 = 320

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