SSC CGL 2 Sep 2016 Shif 2 Paper

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Question : 70 of 100

Marks: +1, -0

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, the compound interest on the same at the same rate and for the same time is :

Rs. 50.50
Rs. 51.25
Rs. 51.50
Rs. 50.05

Solution:

Principal =

{S.I. × 100}/{\Time × \Rate}

=

{50×100}/{2×5}

= Rs. 500
∴ C.I. =

p[(1+R/{100})^T-1]

= 500

[(1+5/{100})^2-1]

= 500

[(1+1/{20})^2-1]

= 500

[({21}/{20})^2 -1]

= 500

500 ({441}/{400}-1)

=

{500×41}/{400}

= Rs. 51.25

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