Question : The difference between the compound interest, when compounded annually, and the simple interest on a certain sum of money for 2 years at 4.2% is INR 8.82. What is the sum?
Option 1: INR 4,500
Option 2: INR 2,100
Option 3: INR 5,000
Option 4: INR 3,000
Answer (1)
16th Jan, 2024
Correct Answer: INR 5,000
Solution :
Difference = INR 8.82
Rate = 4.2%
Sum = Difference $\times (\frac{100}{\text{Rate}})^2=8.82 \times (\frac{100}{4.2})^2$ = INR 5,000
Hence, the correct answer is INR 5,000.
Comments (0)
Related Questions
Know More about
Staff Selection Commission Multi Tasking ...
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Get Updates Brochure
Thank You!
Your Staff Selection Commission Multi Tasking Staff Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Exam Date:
30 Sep, 2024
- 14 Nov, 2024
Application Date:
23 Sep, 2024
- 15 Nov, 2024
Tier II
Exam Date:
18 Nov, 2024
- 18 Nov, 2024
Mains Exam
Exam Date:
30 Nov, 2024
- 30 Nov, 2024
Mains Exam
Exam Date:
14 Dec, 2024
- 14 Dec, 2024
