The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

The difference between compound interest and simple interest on an amo

1.	The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
A.	8
B.	10
C.	12
D.	Cannot be determined
Answer» B. 10

Discussion

No Comment Found

Related MCQs

What is the compound interest earned at the end of 3 years? I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500. II. The rate of interest is 10 p.c.p.a. III. Compound interest for 3 years is more than the simple interest for that period by Rs. 465.
What is the rate of interest p.c.p.a.? I. An amount doubles itself in 5 years on simple interest. II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400. III. Simple interest earned per annum is Rs. 2000.
What will be the compound interest earned on an amount of Rs. 5000 in 2 years? I. The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000. II. The compound interest and the simple interest earned in one year is the same. III. The amount becomed more than double on compound interest in 10 years.
Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years? I. The rate of interest is 5 p.c.p.a. II. Simple interest fetched on the same amount in one year is Rs. 600. III. The amount borrowed is 10 times the simple interest in 2 years.
An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200.
What will be compounded amount? I. Rs. 200 was borrowed for 192 months at 6% compounded annually. II. Rs. 200 was borrowed for 16 years at 6%.
What is the rate of compound interest? I. The principal was invested for 4 years. II. The earned interest was Rs. 1491.
What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
Calculate the compound interest on Rs. 4000 for 2 years at 20% per annum when compounded annually.
If the amount is Rs. 400 and Principal is Rs. 100 which is compounded half yearly for 1 year, calculate the rate of interest.

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

Discussion

No Comment Found

Related MCQs

Reply to Comment