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If the difference between C.I. and S.I. for 2 years is Rs. 16 and the rate of interest is 10%, then find the time if the simple interest on the same principal amounts to Rs. 640?
  • a)
    5 years
  • b)
    2 years
  • c)
    1 year
  • d)
    4 years
  • e)
    3 years
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
If the difference between C.I. and S.I. for 2 years is Rs. 16 and the...
Given
Let the principle is P.
For 2 years, S.I. - C.I. = Rs. 16
Rate of Interest = 10%
From Formula:
Simple interest = P×R×T/100
Difference between the compound interest and simple interest on a certain sum for 2 years = P× (R/100)2
⇒ T = 4 years
Hence, the correct option is (D).
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If the difference between C.I. and S.I. for 2 years is Rs. 16 and the rate of interest is 10%, then find the time if the simple interest on the same principal amounts to Rs. 640?a)5 yearsb)2 yearsc)1 yeard)4 yearse)3 yearsCorrect answer is option 'D'. Can you explain this answer?
Question Description
If the difference between C.I. and S.I. for 2 years is Rs. 16 and the rate of interest is 10%, then find the time if the simple interest on the same principal amounts to Rs. 640?a)5 yearsb)2 yearsc)1 yeard)4 yearse)3 yearsCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about If the difference between C.I. and S.I. for 2 years is Rs. 16 and the rate of interest is 10%, then find the time if the simple interest on the same principal amounts to Rs. 640?a)5 yearsb)2 yearsc)1 yeard)4 yearse)3 yearsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the difference between C.I. and S.I. for 2 years is Rs. 16 and the rate of interest is 10%, then find the time if the simple interest on the same principal amounts to Rs. 640?a)5 yearsb)2 yearsc)1 yeard)4 yearse)3 yearsCorrect answer is option 'D'. Can you explain this answer?.
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