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What will be the difference between simple and compound interest @ 10% per annum on the sum of Rs 1000 after 4 years

  • Rs 62.10
  • Rs 63.10
  • Rs 64.10
  • Rs 65.10

Answer: Option C

Explanation:

S.I.=1000∗10∗4100=400C.I.=[1000(1+10100)4−1000]=464.10



So difference between simple interest and compound interest will be 464.10 - 400 = 64.10

Similar Questions :

1. What will be the difference between simple and compound interest @ 10% per annum on the sum of Rs 1000 after 4 years

  • Rs 62.10
  • Rs 63.10
  • Rs 64.10
  • Rs 65.10

Answer: Option C

Explanation:

S.I.=1000∗10∗4100=400C.I.=[1000(1+10100)4−1000]=464.10



So difference between simple interest and compound interest will be 464.10 - 400 = 64.10

2. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases.

  • 8%
  • 9%
  • 10%
  • 11%

Answer: Option D

Explanation:

Difference between C.I and S.I for 2 years = 36.30
S.I. for one year = 330.
S.I. on Rs 330 for one year = 36.30

So R% = \frac{100*36.30}{330*1} = 11%

3. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum

  • Rs 600
  • Rs 625
  • Rs 650
  • Rs 675

Answer: Option B

Explanation:

Let the Sum be P
S.I.=P∗4∗2100=2P25C.I.=P(1+4100)2−P=676P625−P=51P625As, C.I. - S.I = 1=>51P625−2P25=1=>51P−50P625=1P=625


4. In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually

  • 2 Years
  • 3 Years
  • 4 Years
  • 5 Years

Answer: Option B

Explanation:

Principal = Rs.1000;
Amount = Rs.1331;
Rate = Rs.10%p.a.

Let the time be n years then,

1000(1+10100)n=1331(1110)n=13311000(1110)3=13311000


So answer is 3 years

5. A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate on interest per annum is.

  • 4%
  • 5%
  • 6%
  • 7%

Answer: Option B

Explanation:

S.I. on Rs 800 for 1 year = 40

Rate = (100*40)/(800*1) = 5%

Read more from - Compound Interest Questions Answers
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