Quick Method for solving Compound Interest Questions - Type 7

Ashish

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Staff member
#1
1. The difference between compound interest and simple interest on Rs 2500 for 2 years at 4% per annum is:
a) Rs 40
b) Rs 45
c) Rs 14
d) Rs 4



Answer: Rs 4

2. 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) 9%
b) 12%
c) 8%
d) 6%



Answer: 8%