SSC Sample Paper Mock Test-19 SSC CGL Tear-II Paper-1

If the compound interest on a sum of money for 3 yr at the rate of 5% per annum is Rs. 252.20, the simple interest on the same sum at the same rate and for the same time is

A) Rs. 220

B) Rs. 240

C) Rs. 245

D) Rs. 250

Correct Answer: B

Solution :

Suppose principal = Rs. x

\[\Rightarrow \] \[x\left\{ {{\left( 1+\frac{5}{100} \right)}^{3}}-1 \right\}=252.20\]

\[\Rightarrow \] \[x\left\{ {{\left( \frac{21}{20} \right)}^{3}}-1 \right\}=252.20\]

\[\Rightarrow \]\[x\left\{ \frac{21\times 21\times 21-20\times 20\times 20}{20\times 20\times 20} \right\}=252.20\]

\[\Rightarrow \] \[x\frac{1261}{8000}=252.20\]

\[\therefore \] \[x=\frac{252.20\times 8000}{1261}=1600\]

\[\Rightarrow \] \[\text{SI}=\frac{1600\times 5\times 3}{100}\]= Rs. 240