RRB Paramedical Staff Nurse Model Paper 1

Question : 58 of 100

Marks: +1, -0

Compound interest of a sum of money for 2 years at 4 per cent per annum is Rs. 2,448. Simple interest of the same sum of money at the same rate of interest for 2 years will be:

Rs. 2,500
Rs. 2,400
Rs. 2,360
Rs. 2,250

Validate

Solution:

\CI=\P(1+\;{R}/{100})^{t}-P

2448=P[(1+\;{R}/{100})^{t}-1]

2448=P[(1+\;{4}/{100})^{2}-1]

2448=P[\;{676}/{625}-1]

2448=P[\;{51}/{625}]

∴{P}=\;{2448 × 625}/{51}=30000

∴\;{\SI}=\;{30000 × 4 × 2}/{100}= {Rs} .2400

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