SSC CHSL 12 Apr 2021 Shift 2 Paper

Section: Quantitative Aptitude

Question : 60 of 100

Marks: +1, -0

The compound interest (in ₹, to the nearest integer) on ₹ 8950 for 2 yr at the rate of

9 \%

per annum, compounded annually is

Solution:

According to the question,
Compound interest

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

\;\; =8950[(1+\;{9}/{100})^{2}-1]

\;\; =8950[(\;{109}/{100})^{2}-1]

\;\; =8950[\;{11881-10000}/{10000}]

\;\; =8950 × \;{1881}/{10000}=₹ 1683.495

≈ ₹ 1683

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