Compound Interest Practice Test 1

Question : 31 of 40

Marks: +1, -0

By what per cent is CI on a certain sum more than that of SI at 20% for 2 years?

Solution:

Compound Interest

=P(1+20/100)^2-P

=P(36/25)-P

CI=P(11/25)

SI={P×2×20}/{100}=P(2/5)

Required percentage

={P(11/25)-P(2/5)}/{P(2/5)}×100

={P(11/25-2/5)}/{P(2/5)}

=1/25×5/2×100=10%

Go to Question:

Prev Question

Next Question