SSC CGL 23 Aug 2021 Shift 2 Paper

Question : 59 of 100

Marks: +1, -0

At what rate per cent per annum will

₹ 7200

amount to

₹ 7938

in one year, if interest is compounded half yearly?

Solution:

Given,

A=₹ 7938

and

P=₹ 7200

We know,

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

Here, Interest compounded half yearly we can also write as

t=2 {yr}

and rate

=\;{R}/{2} \%

⇒ 7938=7200[1+\;{[({R}/{2})}/{100}]^{2}

⇒ \;\; \;{7938}/{7200}=[1+\;{({R}/{2})}/{100}]^{2}

⇒ \;\; \;{441}/{400}=[1+\;{({R}/{2})}/{100}]^{2}

⇒ \;\; √{\;{441}/{400}}=[1+\;{\;{R}/{2}}/{100}]

⇒ \;\; \;{21}/{20}=1+\;{({R}/{2})}/{100}

⇒ \;\; \;{1}/{20}=\;{({R}/{2})}/{100}

⇒\;\;{R}/{2}=5

∴ \;R=10 \%

Go to Question:

Prev Question

Next Question