Allied & ICAR Exam Bank • ALLIED_1363 MCQ • 1 Mark

Section 8: General Aptitude

Quantitative Aptitude

Subtopic: Numerical Computation

Question Statement:

The difference between simple interest and compound interest (compounded annually) on a principal of Rs 5,000 for 2 years at 10% per annum is:

Options:

  • (A) Rs 50
  • (B) Rs 60
  • (C) Rs 45
  • (D) Rs 55

Answer Key:

A

Step-by-Step Solution & Explanation

Difference for 2 years = $P(R/100)^2 = 5000 \times (10/100)^2 = 5000 \times 0.01 = 50$ rupees.
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