SSC CGL 11 Aug 2017 Shift 1 Paper

Question : 60 of 100

Marks: +1, -0

For an amount, simple interest at the rate of interest of 12% per annum for 6 years is ₹ 25920. What will be the compound interest (in ₹) on some amount at the rate of interest of 8% per annum compounding annually for 2 years?

4326.3
5563.4
5888.6
5990.4

Validate

Solution:

Let the principal = P

{P× 12× 16}/100=25920

⇒

P={25920 × 100 }/{12 × 16}

∴

P =36000

Compound interest

=36000[(1+8/100)^2-1]

=36000[(27/25)^2-1]

=36000[{729-625}/625]

= 36000× 104/625=\₹5990.4

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