SSC CGL Tier II 21 Sep 2014 Paper

Question : 93 of 100

Marks: +1, -0

A man borrows money at 3% per annum interest payable yearly and lend it immediately at 5% interest (compound) payable half-yearly and thereby gains ₹ 330 at the end of the year. The sum borrowed is

₹ 17000
₹ 16500
₹ 15000
₹ 16000

Validate

Solution:

(4) Amount borrowed = Rs. x
∴ Interest to be paid

={x×3}/100

Case II,
Rate

=5/2%

per half year
Time = 2 half years

∴

C.l.

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

=x [ (1+ {5}/{200} )^{2}-1 ]

=x\ [\ (1+ {1}/{40} )^{2}-1 ]

=x [ ( {41}/{40} )^{2}-1 ]

=x ( {1681}/{1600}-1 )

=x ( {1681-1600}/{1600} )=

Rs.

{81 x}/{1600}

Difference

= {81 x}/{1600}- {3 x}/{100}

= {81 x-48 x}/{1600}

=

Rs.

{33 x}/{1600}

∴{33 x}/{1600}=330

⇒ x= {1600 × 330}/{33}=

Rs. 16000

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