Question

The difference of S.I and C.I on an amount of Rs. 40000 for 2 years is Rs. 64. What is the rate of interest?

Q: The difference of S.I and C.I on an amount of Rs. 40000 for 2 years is Rs. 64. What is the rate of i

=> CI – SI = P(R/100) 2 => 64 = 40000 (R/100) 2 => (R/100) 2 = 16/10000 => R/100 = 4/100 => R = 4%

A 6%

B 4%

C 5%

D 7%

E None of these

Download PDF Practice Next

More Simple and compound interest Questions

A took a loan of Rs.6980 at simple interest of 25% p.a. and invested the same money in a scheme at simple interest of 35% p.a. Find the profit earned by A at the end of 2 years.
A certain sum of money invested at R% p.a. fetches a compound interest (compounded annually) of 1630.5 and simple interest of Rs.1500 at the end of 2 years. Find the value of ‘R’.
A farmer wants to divide Rs 1,22,000 between his sons , who are 18 and 20 years old respectively, in such a way that the sum divided at the rate of 20% per annum, compounded annually, will give the same amount to each of them when they attain the age of 22 years. How should he divide the sum?
A borrows Rs 7000 from B at 10% p.a compound interest compounded annually. At the end of every year he pays Rs 2200 and at the end of 3rd years he pays all the amount, how much amount does he pay at the end of the 3rd year?
A certain sum of money invested at R% p.a. fetches a compound interest (compounded annually) of 1620 and simple interest of Rs.1500 at the end of 2 years. Find the value of ‘R’.
Anjali invested Rs.14000 in a scheme offering compound interest of x% p.a. compounded annually. If at the end of 2 years, interest received by her from the scheme is Rs.6160 then find the value of ‘x’.
Some amount out of Rs. 12000 was lent out at 10% per annum and the rest amount @ 16% per annum and thus in 5 years the total interest from both the amount collected was Rs. 7200. What is the amount which was lent out at 10% per annum?
A man deposited 25% of his salary to a bank which offers compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 years is Rs. 3570, find the monthly expenditure of the man which is 56% of his monthly salary.
What will be the ratio of simple interest earned by certain amount at the same rate of interest for 4 years and 6 years ?
A certain sum of money will be doubled in 4 years at the rate of simple interest percent per annum is:

Relevant for Exams:

ESIC Recruitment

Question

The difference of S.I and C.I on an amount of Rs. 40000 for 2 years is Rs. 64. What is the rate of interest?

Solution

Relevant for Exams:

I Pledged to: