general math MCQ #905

What will be the difference between simple and compound interest at 10% per annum on a sum of Rs. 1000 after 4 years?

general math MCQ #905

  1. Question 1

    Q1. What will be the difference between simple and compound interest at 10% per annum on a sum of Rs. 1000 after 4 years?

    • A) Rs. 31
    • B) Rs. 32.10
    • C) Rs. 40.40
    • D) Rs. 64.10

    Answer: Rs. 64.10

    Explanation: SI over 4 years = Rs. 400; CI = 1000 × (1.1⁴ − 1) = Rs. 464.10; difference = Rs. 64.10.