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SSC Sample Paper SSC CGL - Sample Paper-11

  • question_answer
    Compound interest (compounded annually) on a certain sum of money for 2 yr at 4% per annum is Rs. 102. The simple interest on the same sum for the same rate and for the same period will be                                    

    A) Rs. 99              

    B) Rs. 101

    C) Rs. 100 

    D) Rs. 98

    Correct Answer: C

    Solution :

    Let principal be Rs. P \[\therefore \] According to question,             \[102=P\left\{ {{\left( 1+\frac{r}{100} \right)}^{t}}-1 \right\}\] Where \[r=4%\] and \[t=2\,yr\] \[\therefore \]      \[P=\frac{102}{{{\left( \begin{matrix}    26  \\    25  \\ \end{matrix} \right)}^{2}}-1}=Rs.1250\] \[\therefore \] Simple Interest at rate of 4% for 2 yr             \[=\frac{1250\times 4\times 2}{100}=Rs.100\] \[\therefore \] Required answer is Rs. 100   


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