model 4 difference in ci & si Practice Questions Answers Test with Solutions & More Shortcuts
compound interest PRACTICE TEST [6 - EXERCISES]
model 1 basic compound interest using formula
model 2 at ci sum becomes ‘n’ times after ‘t’ years
model 3 combination of si & ci
model 4 difference in ci & si
model 5 ci with instalments
model 6 comparing sum in different years
Question : 26 [SSC CPO S.I.2005]
If the difference between the simple and compound interests on a sum of money for 2 years at 4% per annum is 80, the sum is :
a) 1000
b) 5000
c) 10000
d) 50000
Answer »Answer: (d)
Using Rule 6,
When difference between the compound interest and simple interest on a certain sum of money for 2 years at r % rate is x, then the sum is given by
$x(100/r)^2$ Here x = Rs.80, r = 40%
Required sum = 80$(100/4)^2$
= 80 × 25 × 25 = Rs.50000
Question : 27 [SSC CGL Prelim 2003]
The difference between simple and compound interest (compounded annually) on a sum of money for 2 years at 10% per annum is 65. The sum is
a) 6500
b) 65650
c) 6565
d) 65065
Answer »Answer: (a)
Let the sum be x. Then,
C.I. = $x(1 + 10/100)^2 - x = {21x}/100$
S.I. = ${x × 10 × 2}/100 = x/5$
C.I. - S.I. = ${21x}/100 - x/5 = x/100$
Given that, $x/100$ = 65
x = 6500
Hence, the sum is Rs.6500.
Using Rule 6,
Here, C.I. - S.I. = Rs.65, R = 10%, T = 2 years, P = ?
C.I. - S.I. = P$(R/100)^2$
65 = P$(10/100)^2$ ⇒ P = Rs.6500
Question : 28 [SSC CGL Prelim 2002]
If the difference between the compound interest and simple interest on a sum at 5% rate of interest per annum for three years is 36.60, then the sum is
a) 4800
b) 8000
c) 4400
d) 8400
Answer »Answer: (a)
Simple Approach
Difference of SI and CI for 3 years
= ${PR(300 + R)}/{100^3}$
Since, ${P × 25 × 305}/{100 × 100 × 100}$ = 36.60
P = ${36.60 × 100 × 100 × 100}/{25 × 305}$ = Rs.4800
Using Rule 6,
C.I.–S.I. = Rs.36.60, R = 5%, P =?, T = 3yrs.
C.I. - S.I.= P$(R/100)^2 × (3 + R/100)$
36.60 = P$(5/100)^2 × (3 + 5/100)$
36.60 = P × $25/{100^2} × 305/100$
P = ${36.60 × 100 × 100 × 100}/{25 × 305}$
P = $36600000/{25 × 305}$ = Rs.4800
Question : 29 [SSC CPO S.I.2006]
If the difference between the compound and simple interests on a certain sum of money for 3 years at 5% per annum is 15.25, then the sum is
a) 2,500
b) 2,000
c) 1,500
d) 1,000
Answer »Answer: (b)
Using Rule 6,
Difference between C.I. and S.I for 3 years
= $\text"PR"^2/(100)^2(R/100 + 3)$
15.25 = ${P × 25}/10000(5/100 + 3)$
15.25 = ${P × 305}/{400 × 100}$
P = ${15.25 × 400 × 100}/305$ = Rs.2000
Question : 30 [SSC CGL Prelim 2005]
The difference between the simple and compound interest on a certain sum of money for 2 years at 4% per annum is 4. The sum is
a) 2,000
b) 2500
c) 2,600
d) 2,400
Answer »Answer: (b)
Using Rule 6,
Sum = Difference$(100/r)^2$
= 4 × $(100/4)^2$ = Rs.2500
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model 4 difference in ci & si Shortcuts »
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Click to Start..compound interest Shortcuts and Techniques with Examples
-
model 1 basic compound interest using formula
Defination & Shortcuts … -
model 2 at ci sum becomes ‘n’ times after ‘t’ years
Defination & Shortcuts … -
model 3 combination of si & ci
Defination & Shortcuts … -
model 4 difference in ci & si
Defination & Shortcuts … -
model 5 ci with instalments
Defination & Shortcuts … -
model 6 comparing sum in different years
Defination & Shortcuts …
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