SSC CGL 26 Oct 2014 Shift 2 Paper

Question : 118 of 200

Marks: +1, -0

The compound interest on a certain sum of money for 2 years at 5% per annum is 410. The simple interest on the same sum at the same rate and for the same time is

Validate

Solution:

Compound interest
= P

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

⇒ 410 = P

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

⇒ 410 = P

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

⇒ 410 = P

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

⇒ 410 = P

({441}/{400}-1)

⇒ 410 = P

({41}/{400})

⇒ P =

{410×400}/{41}

= Rs. 4000
∴ S.I. =

{\Principlal × \Time × \Rate}/{100}

{4000×2×5}/{100}

= Rs. 400

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