Practice30Create account

On a sum lent for 2 years at 8% per annum, compound interest exceeds simple interest by ₹48. What is the sum (in ₹)?

Competition practiceSimple & Compound Interest
  • A7500
  • B6000
  • C8000
  • D3000

Step-by-Step Solution

For 2 years, CI − SI = . So , giving = ₹7,500.
Answer: A) 7500

Master this topic in 30 minutes a day.

Don't just memorise the answer — build a daily practice habit.

Practice 5 Similar Questions Free →

All Simple & Compound Interest practice questions

More Simple & Compound Interest practice

A sum of money doubles itself in 8 years at simple interest. Find the rate of interest…Over 3 years at 10% per annum, compound interest (compounded annually) on a sum exceeds…Mr. Bose invests ₹12500 at 7% per annum simple interest. How much interest (in ₹) does…Sanjay invests ₹8000 for 1 year at 10% per annum, with interest compounded half-yearly.…A sum of money at simple interest amounts to ₹4800 in 2 years and ₹5400 in 5 years. Find…