Q.1.The difference in simple interest and compound interest on a certain sum of money in 2 years at 10 % p.a. is Rs. 50. The sum is
a) Rs. 10000
b) Rs. 6000
c) Rs. 5000
d) Rs. 2000
e) None of these
Q.2. The difference in simple interest and compound interest on a certain sum of money in 2 years at 18 % p.a. is Rs. 162. The sum is
a) Rs. 4000
b) Rs. 5200
c) Rs. 4250
d) Rs. 5000
e) None of these
Q.3. The compound interest on a certain sum of money for 2 years is Rs. 208 and the simple interest for the same time at the same rate is Rs. 200. Find the rate %.
a) 5 %
b) 6 %
c) 7 %
d) 4 %
e) 8 %
Q.4.The difference between compound interest and simple interest on a certain sum for 2 years at 10 % is Rs. 25. The sum is
a) Rs. 1200
b) Rs. 2500
c) Rs. 750
d) Rs. 1250
e) Rs. 2000
Q.5.The simple interest on a certain sum for 3 years in Rs. 225 and the compound interest on the same sum for 2 years is Rs. 165. Find the rate percent per annum.
a) 20 %
b) 2.5 %
c) 5 %
d) 15 %
e) 7.5%
Q.6.The simple interest on a sum of money for 2 years is Rs. 150 and the compound interest on the same sum at same rate for 2 years is Rs. 155. The rate % p.a. is
a) 16 %
b) 20/3 %
c) 12 %
d) 10 %
e) None of these
Q7.Mihir’s capital is 5/4 times more than Tulsi’s capital. Tulsi invested her capital at 50 % per annum for 3 years (compounded annually). At what rate % p.a. simple interest should Mihir invest his capital so that after 3 years, they both have the same amount of capital?
a) 20/3 %
b) 10 %
c) 50/3 %
d) 1.728 %
e) None of these
Q8.The difference in simple interest and compound interest on a certain sum of money in 3 years at 10 % p.a. is Rs. 372. The sum is
a) Rs. 8000
b) Rs.9000
c) Rs. 10000
d) Rs. 12000
e) None of these
Q9.Sahil’s capital is 1/6 times more than Chaya’s capital. Chaya invested her capital at 20 % per annum for 2 years (compounded annually). At what rate % p.a. simple interest should Sahil invest his capital so that after 2 years, they both have the same amount of capital?
a) 10%
b) 11 5/7%
c) 20%
d) 13 5/7%
e) None of these
Q10.The difference in simple interest and compound interest on a certain sum of money in 3 years at 20 % p.a. is Rs. 640. The sum is
a) Rs. 5000
b) Rs. 8500
c) Rs. 8250
d) Rs. 6000
e) None of these
If the difference between CI and SI on the same sum for 2 years at the rate of 15% is Rs. 225 then find the sum?
- Rs. 2500
- Rs. 12,500
- Rs. 5,000
- Rs. 10,000
- None of these
Answer (Detailed Solution Below)
Option 4 : Rs. 10,000
GIVEN:
⇒ Time = 2 years.
⇒ Rate = 15%
⇒ Compound interest – Simple interest = Rs. 225
FORMULA USED:
⇒ S.I = (P x R x T) /100
⇒ C.I = P [1+ (R / 100)]T – P
CALCULATION:
⇒ S.I = (P x 15 x 2)/100
⇒ S.I = 0.30P
⇒ C.I = P [1+ (15/100) ]2 – P
⇒ C.I = P [(529/400) – 1]
⇒ C.I = P [(129/400)]
⇒ C.I = 0.3225P
⇒ Difference = C.I – S.I
⇒ C.I – S.I = 0.0225P
⇒ C.I – S.I = Rs. 225
⇒ 0.0225P = Rs. 225
⇒ P = Rs. 10,000
Let Principle = 100%
⇒ T = 2 years & Rate = 15%
⇒ S.I = 30% of P
⇒ S.I = 30%
For C.I we have to calculate effective rate.
⇒ Effective rate = 15 + 15 + (15 x 15)/100
⇒ Effective rate = 32.25%
⇒ C.I = 32.25%
⇒ Difference = 2.25%
⇒ 2.25% = Rs 225
⇒ 1% = Rs. 100
⇒ P = 100% = Rs. 10,000
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Find the difference between CI & SI or 2 years at 12% rate of interest. If principal is Rs. 2500.
- Rs. 24
- Rs. 36
- Rs. 32
- Rs. 28
Answer (Detailed Solution Below)
Option 2 : Rs. 36
Free
15 Questions 15 Marks 8 Mins
Given:
The principal = Rs. 2500
Rate of interest = 12%
Time = 2 years
Concept:
SI = (P × R × T)/100
CI = P[(1 + r/100)n – 1]
Here, n is the number of terms in the year.
Calculation:
The simple interest for 2 years
⇒ (2500 × 12 × 2)/100
⇒ 25 × 12 × 2
⇒ Rs. 600
Now, Compound interest for 2 years is
⇒ 2500[(1 + 12/100)2 – 1]
⇒ 2500[(112/100)2 – 1]
⇒ 2500 × (28/25)2 – 2500
⇒ 2500 × (784/625) – 2500
⇒ 3136 – 2500
⇒ Rs. 636
Now, The difference between CI and SI is
⇒ Rs. 636 – Rs. 600
⇒ Rs. 36
∴ The difference between CI and SI is Rs. 36.
Alternate Method
The difference between CI and SI for 2 years is P(r/100)2
The difference is
⇒ 2500(12/100)2
⇒ 2500 × 144/10000
⇒ Rs. 36
∴ The difference between CI and SI is Rs. 36.
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