Question : The difference between the compound interest and simple interest on Rs. 5,000 for 2 years at 8% per annum payable yearly is:
Option 1: Rs. 30
Option 2: Rs. 31
Option 3: Rs. 33
Option 4: Rs. 32
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. 32
Solution : Principal Amount, $P$= Rs. 5000 Rate of interest, $R$ = 8% Time period, $T$ = 2 years Difference between compound interest and simple interest for 2 years = $\frac{{PR^2}}{100^2}$ = $\frac{{5000 × 8^2}}{100^2}$ = $\frac{{50 × 64}}{100}$ = Rs. 32 Hence, the correct answer is Rs. 32.
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 : The difference between Simple and Compound Interest (compounded annually) on Rs. 40,000 for 3 years at 8% per annum is:
Question : The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is:
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:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile