SSC CGL Model Paper 5

Question : 61 of 100

Marks: +1, -0

If in 2 years at simple interest the principal increases by 16%. What will be the compound interest earned (in Rs) on Rs 50,000 in 2 years at the same rate?

8320
4320
10320
632

Validate

Solution:

Rate of interest(r) =

{16×100}/{100×2}%

∴ Rate = 8%
Now, CI for 50,000 in 2 years

∴ CI = 4000 + 4000 + 320= 8320

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