SSC CGL Model Paper 4

Question : 60 of 100

Marks: +1, -0

If in 3 years at simple interest the principal increases by 18%, what w ill be the compound interest (in ₹) earned on ₹ 25000 in 3 years at the same rate?

4775.4
5774.4
4557.4
5575.4

Validate

Solution:

Let principal amount = ₹ x
Time = 3 years
Simple interest

= x ×18/100={18x}/100

Simple interest =

{P ×R×T}/100

R={\Simple \interest×100}/{P×T}

={{18x}/100+100}/{x×3}=6%

Compound interest

=P[(1+r/100)^n-1]

= 25000[(1+6/100)^3-1]

= 25000[(53/50)^3-1]

= 25000[{(53)^3-(50)^3}/(50)^3]

= {25000 (53 - 50 ) (53 ^2+ 50^2 + 53 ×50)}/{50× 50 × 50 }

={25000(3) (2809 + 2500 + 2650)}/{50× 50 × 50 }

={25000 ×3× 7959}/{50× 50 × 50 }

= ₹ 4775.4

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