SSC CGL 16 Aug 2015 Shift 1 Paper

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Question : 135 of 200

Marks: +1, -0

A certain sum will amount to 12,100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is

8000
6000
12000
10000

Solution:

A = P

(1+R/{100})^T

⇒ 1210 = P

(1+{10}/{100})^2

⇒ 12100 = P

({11}/{10})^2

⇒ 12100 = P ×

{121}/{100}

⇒ P =

{12100×100}/{121}

= Rs. 10000

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