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?
Option 1: Rs. 7,200
Option 2: Rs. 9,600
Option 3: Rs. 16,400
Option 4: Rs. 8,400
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. 16,400
Solution : The difference between the Simple Interest and Compound Interest on a certain sum of money $P$ for 2 years at $R$% per annum is given by: $(CI - SI) = \frac{PR^{2}}{100^{2}}$ According to Question, The difference between CI and SI for 2 years is 41. So, $ 41= \frac{P(5)^{2}}{100^{2}}$ ⇒ $P = \frac{41\times100\times100}{5\times5}$ ⇒ $P = 16400$ Hence, the correct answer is Rs. 16,400.
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 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:
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 : 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%.
Question : The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is:
Question : The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile