SSC CGL Model Paper 6

Question : 60 of 100

Marks: +1, -0

In 4 years at simple interest the principal increases by 32%. What will be die compound interest earned (in ₹) on ₹ 24000 in 3 years at the same rate?

5233
6332
5332
6233

Validate

Solution:

Let rate of interest = r% and principal = P
According to the question,

{P × r ×4}/100={P×32}/100

r = 8%
Compound interest

= 24000[1+8/100]^3-24000

= 24000[(27/25)^3-1]

= 24000×[{19683-15625}/15625]

== 24000×4058/15625=6233

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