SSC CGL 18 Aug 2021 Shift 2 Paper

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Question : 66 of 100

Marks: +1, -0

What is the difference (in ₹) between the simple interest and the compound interest on a sum of

₹ 8000

for

2 \;{2}/{5}

yr at the rate of

10 \%

p.a., when the interest is compounded yearly?

$147.20$
$152.80$
155
150

Solution:

Given,

P=₹ 8000, r=10 \%

,

t=2 \;{2}/{5} {yr}

We know that,

{Sl}=\;{\;\text " Prt "\;}/{100}=\;{8000 × 12 × 10}/{5 × 100}=₹ 1920

and

A=P(1+\;{r}/{100})^{†}(1+\;{x}/{y} \;{r}/{100})

\;\; =8000(1+\;{10}/{100})^{2}(1+\;{2}/{5} × \;{10}/{100})

\;\; =8000 × \;{11}/{10} × \;{11}/{10} × \;{26}/{25}

\;\; =₹ 10067.2

We know that,

{Cl}=A-P

=10067.2-8000=₹ 2067.2

∴

Required difference

=2067.2-1920=₹ 147.20

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