A sum of ₹x amounts to ₹54571 in 2\frac{1}{2} years at 12% p.a., interest compounded after every 10 months. What is the value of x?

SSC GD Constable 6 Feb 2025 Shift 1 Paper

Section: Elementary Mathematics

Question : 44 of 80

Marks: +1, -0

A sum of ₹x amounts to ₹54571 in

2\;{1}/{2}

years at 12% p.a., interest compounded after every 10 months. What is the value of x?

Solution:

A=P ×(1+R \/ 100)^n

Calculation:
Let

P = x

Since interest is compounded every 10 months, number of compounding periods in 2.5 years

=(30

months

\/ 10

months

)=3

Effective rate for 10 months

=12 ×(10 \/ 12)=10 \%

So,

\;A=x ×(1+10 \/ 100)^3

\;54571=x ×(110 \/ 100)^3

\;54571=x ×(1331 \/ 1000)

\;x=54571 ×(1000 \/ 1331)

\;x=41000

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