Question : If the difference between the compound interest and simple interest on a sum of money for 3 years is Rs. 186, find the sum of money, if the interest rate in both cases is 10%.
Option 1: Rs. 5,500
Option 2: Rs. 7,200
Option 3: Rs. 6,500
Option 4: Rs. 6,000
Latest: SSC CGL Tier 1 Result 2024 Out | SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL Tier 1 Scorecard 2024 Released | SSC CGL complete guide
Suggested: Month-wise Current Affairs | Upcoming Government Exams
Correct Answer: Rs. 6,000
Solution : Given: Difference = Rs. 186 Rate = 10% Time = 3 years By applying the formula for finding the difference between CI and SI: Difference = Principal$(\frac{R}{100})^2(\frac{R}{100}+3)$ ⇒ 186 = Principal$(\frac{10}{100})^2(\frac{10}{100}+3)$ ⇒ 186 = Principal$(\frac{1}{10})^2(\frac{1}{10}+3)$ ⇒ 186 = Principal$(\frac{1}{100})(\frac{31}{10})$ Principal = $(\frac{186×10×100}{31})$ = 6000 Hence, the correct answer is Rs. 6,000.
Candidates can download this ebook to know all about SSC CGL.
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Question : The difference between Compound Interest and Simple Interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the total sum?
Question : If the difference between the compound interest and simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is:
Question : What is the rate of interest (in %), if the simple interest earned on a certain sum for the 3 years is Rs. 6,000 and the compound interest earned for 2 years is Rs. 4160?
Question : The simple interest on a certain sum of money for 2 years at 5% is Rs. 1600. The compound interest at the same rate after 3 years (interest compounded annually) is:
Question : The difference between simple and compound Interest compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 8. The sum is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile