SSC CHSL 19 Apr 2021 Shift 3 Paper

Section: Quantitative Aptitude

Question : 69 of 100

Marks: +1, -0

In how many years, the compound interest, if compounded annually on a sum of

₹ 60000

at rate of

8 \%

per annum is

₹ 9984

Solution:

Let time for interest be

x

yr.
According to the question,
Compound interest

\;\; =\;\text " Principal "\; ×[(1+\;{\;\text " Rate "\;}/{100})^{\;\text "Time "\;}-1]

&9984=60000 ×[(1+\;{8}/{100})^{x}-1]

⇒ \;\; \;{9984}/{60000}+1=(1+\;{8}/{100})^{x}

⇒ \;\; (\;{108}/{100})^{x} \;\; =\;{69984}/{60000}

\;\; =\;{11664}/{10000}=(\;{108}/{100})^{2}

∴

On comparison,

x=2

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