Question : The difference between compound interest and simple interest on Rs. X at 7.5% per annum for 2 years is Rs. 22.50. Find the value of X.
Option 1: Rs. 4000
Option 2: Rs. 5000
Option 3: Rs. 2000
Option 4: Rs. 1900
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Correct Answer: Rs. 4000
Solution : Given: Principal = Rs. X Rate = 7.5% Time = 2 years The difference between compound interest and simple interest, D = Rs.22.50 We know that, $D=P(\frac{r}{100})^2$ ⇒ $22.50=X(\frac{7.5}{100})^2$ ⇒ $22.50=X(\frac{3}{40})^2$ ⇒ $22.50=X\times\frac{3}{40}\times\frac{3}{40}$ ⇒ $X=1600\times2.5$ ⇒ $X=4000$ Hence, the correct answer is Rs. 4000.
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Question : The difference between compound interest and simple interest on a sum at 20% per annum for two years is Rs. 420. Find the sum (in Rs.).
Option 1: Rs. 8,000
Option 2: Rs. 10,500
Option 3: Rs. 9,000
Option 4: Rs. 11,000
Question : What is the difference between the compound interest and the simple interest on Rs. 2,000 at 10% interest per annum for 2 years, if, for compound interest, interest is compounded annually?
Option 1: Rs. 20
Option 2: Rs. 40
Option 3: Rs. 80
Option 4: Rs. 60
Question : The difference between simple interest and compound interest on a certain sum of money in 2 years at 3% per annum is 90 paise. What is the sum?
Option 1: Rs. 9000
Option 3: Rs. 3000
Option 4: Rs. 1000
Question : On a certain sum of money, the simple interest for 2 years is INR 150 at the rate of 10% per annum. What is the difference between compound interest and simple interest for 2 years if, in the case of compound interest, interest is compounded annually at the rate of 10% per annum?
Option 1: INR 5
Option 2: INR 10
Option 3: INR 7.5
Option 4: INR 12.5
Question : The difference between compound interest and simple interest on a sum of Rs. 16,000 for two years is Rs. 160. Find the per annum rate of interest.
Option 1: 12%
Option 2: 10%
Option 3: 11%
Option 4: 15%
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