SSC CGL 12 Aug 2017 Shift 1 Paper

Question : 60 of 100

Marks: +1, -0

The difference between compound interest and simple interest on a sum for 2 years at

20 \%

per annum is ₹ 200. If the interest is compounded half yearly, then what is the difference (in ₹) between compound and simple interest for 1 st year?

Solution:

According to the question,

D= {P(R)^{2}}/{(100)^{2}}

⇒

200= {P ×(20)^{2}}/{10000}

⇒

P= {200 ×10000}/{400}

∴

P=5000

Difference

=5000[(1+{20/2}/100)^2]

-5000- {5000 ×20 × 1}/{100}

=5000 [ {121}/{100}-1-\ {20}/{100} ]

= {5000[121-100-20]}/{100}

=50×1=50

So, required difference

=\₹ 50

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