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SSC Sample Paper Mock Test-17 SSC CGL Tear-II Paper-1

  • question_answer
    The time, in which Rs. 2000 will amount to Rs. 2420 at 10% per annum compound interest, when the interest is compounded annually is

    A) 5 yr      

    B)  2 yr

    C)  3 yr     

    D)  4 yr

    Correct Answer: B

    Solution :

    Let Time = T yr \[\therefore \]      \[2420=2000{{\left( 1+\frac{10}{100} \right)}^{T}}\] \[\Rightarrow \]   \[\frac{2420}{2000}={{\left( \frac{11}{10} \right)}^{T}}\] \[\Rightarrow \]   \[{{\left( \frac{11}{10} \right)}^{T}}=\frac{121}{100}={{\left( \frac{11}{10} \right)}^{2}}\]\[\Rightarrow \]\[T=2\,\,\text{yr}\]


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