SSC Sample Paper Mock Test-6 SSC CGL Tear-II Paper-1

A certain amount yields Rs. 1261 as compound interest for 3 yr at 5% per annum. The sum is

A) Rs. 9000

B) Rs. 8400

C) Rs. 7500

D) Rs. 8000

Correct Answer: D

Solution :

Let the principal be 7 x

Now, \[CI=P\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right]\]

\[\Rightarrow \] \[1261=x\left[ {{\left( 1+\frac{5}{100} \right)}^{3}}-1 \right]\]

\[\Rightarrow \] \[1261=x\left( \frac{9261}{8000}-1 \right)\]

\[\Rightarrow \] \[1261=x\left( \frac{9261-8000}{8000} \right)=\frac{1261x}{8000}\]

\[\therefore \] \[x=\frac{1261\times 8000}{1261}=\]Rs. 8000