SSC CHSL Model Paper 10

Question : 51 of 100

Marks: +1, -0

Quantitative Aptitude

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

8
10
12
Cannot be determined

Validate

Solution:

CI = P(1+R/100)^T-P

CI = 15000(1+R/100)^2-15000

SI={PRT}/100

={15000×R×2}/100

CI – SI = 96
On solving, we get:
R = 8
Therefore, rate = 8%

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