The difference between simple interest and compound interest at the same rate for Rs.5000 for 2 years is Rs. 72. The rate of interest is?

A. 10 %
B. 12 %
C. 6 %
D. 8 %

Explanation:

5000 × (1 +R/100) 2 – 5000 –(10000R/100)= 72

=> 5000 [(1 + R/100) 2 – 1 – R/50] = 72
=> 1 + R2/100 + 2R/100 – 1 – R/50 = 72/5000
=> R2 = (72/5000 × 10000) = 144 or R =12%

Related Mcqs:

The difference between compound interest and simple interest at the same rate on Rs 5000 for 2 years is Rs 72. The rate of interest per annum is:___________?
A. 6% B. 8% C. 10% D. 12%...
A deposited Rs 6000 in a bank at 5% Per annum simple interest. B deposited Rs 5000 at 8% P.a Compound interest. After 2 years the difference between their interest will be:_________?
A. Rs 230 B. Rs 232 C. Rs 600 D. Rs 832...
The simple interest on Rs.12000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for five years at the same rate of interest.
A. Rs.3502.80 B. Rs.3052.40 C. Rs.3054.8 D. Rs.3052.80 E. None of these...
The difference between the simple interest and the compound interest on Rs 5000 at 10% P.a for 3 years is:_______?
A. Rs 145 B. Rs 150 C. Rs 165 D. Rs 180 E. None of these...
The difference between simple interest and C.I. at the same rate for Rs.5000 for 2 years in Rs.72. The rate of interest is?
A. 10% B. 12% C. 6% D. 8%...
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:_______?
A. Rs. 1550 B. Rs. 1650 C. Rs. 1750 D. Rs. 2000...
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. 8 B. 10 C. 12 D. Cannot be determined...
A man deposited Rs 6000 in a bank at 5% P.a simple interest another man deposits Rs 5000 at 8% P.a Compounded interest. After 2 years the difference of their interest will be_________?
A. Rs 230 B. Rs 232 C. Rs 600 D. Rs 832...
Rs. 6000 is lent out in two parts. One part is lent at 7% p.a simple interest and the other is lent at 10% p.a simple interest. The total interest at the end of one year was Rs. 450. Find the ratio of the amounts lent at the lower rate and higher rate of interest?
A. 5 : 1 B. 4 : 1 C. 3 : 2 D. 2 : 1...
A man gets a simple interest of Rs.500 on a certain principal at the rate of 5% p.a in two years. Find the compound interest the man will get on twice the principal in two years at the same rate.
A. Rs.500 B. Rs.250 C. Rs.5012.50 D. Rs.5062.50 E. None of these....