SSC CHSL 10 Jan 2017 Shift 2 Paper

Question : 93 of 100

Marks: +1, -0

If the amount received at the end of 2nd and 3rd year at compound interest on a certain Principal is Rs 30250, and Rs 33275 respectively, what is the rate of interest?

10 percent
5 percent
20 percent
20 percent

Validate

Solution:

Compound interest at the end of 2nd year = Rs. 30,250
Compound interest at the end of 3rd year = Rs. 33,275
⇒ Difference = 33275 - 30250 = Rs. 3025
This is the interest obtained on the amount of 2nd year.
∴ Rate of interest ,

r=3025/30250 ×100 = 10%

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