Question:
The difference between the compound interest and simple interest for the amount Rs 5000/- in 2 years is Rs. 32. Then the rate of interest per annum is:
The difference between the compound interest and simple interest for the amount Rs 5000/- in 2 years is Rs. 32. Then the rate of interest per annum is:
Updated On: Aug 29, 2024
- 5%
- 8%
- 10%
- 12%
Hide Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
The Correct Option is (B): 8%
Was this answer helpful?
0
0
Top Questions on Compound Interest
- \₹ 10000 is invested for \( 1\frac{1}{2} \) years at 10% p.a. What is the difference between the compound interest when the sum is compounded half yearly and when it is compounded annually?
- NCHMCT JEE - 2024
- Quantitative Aptitude
- Compound Interest
- For an investment, if the nominal rate of interest is\(10\%\)compounded half-yearly, then the effective rate of interest is:
- CUET (UG) - 2024
- Mathematics
- Compound Interest
- A multinational company creates a sinking fund by setting a sum of Rs. 12,000 annually for 10 years to pay off a bond issue of Rs. 72,000. If the fund accumulates at\(5\% \)per annum compound interest, then the surplus after paying for bond is
- CUET (UG) - 2024
- Mathematics
- Compound Interest
- A property dealer wishes to buy different houses given in the table below with some down payments and balance in EMI for 25 years. Bank charges 6% per annum compounded monthly.
- CUET (UG) - 2024
- Mathematics
- Compound Interest
- A firm anticipates an expenditure of ₹10,000 for a new equipment at the end of 5 years from now. How much should the firm deposit at the end of each quarter into a sinking fund earning interest 10% per year compounded quarterly to provide for the purchase?
[Use (1.025)20=1.7]- CUET (UG) - 2024
- Mathematics
- Compound Interest
View More Questions
Questions Asked in CMAT exam
- A "Febian Entrepreneur" is a term used to describe a type of entrepreneur who focuses on gradual and steady growth rather than rapid scaling. Which of the following best describes the approach of a Febian Entrepreneur?
- CMAT - 2025
- Current Affairs
- A clock is set at 8 am. It loses 10 minutes every 24 hours. What will be the true time when the clock shows 11 am?
- CMAT - 2025
- Logical and Analytical Reasoning Skills
- The ratio of the ages of A and B is 3:5. If the sum of their ages is 48 years, what is the age of B?
- CMAT - 2025
- Current Affairs
- The first CDS (Chief of Defence Staff) of India was appointed to enhance coordination and integration among the three branches of the Indian Armed Forces. Who was the first CDS of India?
- CMAT - 2025
- Current Affairs
- Complete the series: \[ 7, 27, 107, 427, \, ? \]
- CMAT - 2025
- Logical and Analytical Reasoning Skills
View More Questions