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?
Correct answer A. 8
Tip: press A, B, C or D to answer, and N for the next question.
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More Compound Interest questions
See allThe difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
Correct answer B. Rs. 3
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
Correct answer A. Rs. 51.25
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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
Correct answer C. Rs. 1750
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
Correct answer D. 6.09%
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