SSC CHSL 10 Aug 2021 Shift 1 Paper

Section: Quantitative Aptitude

Question : 62 of 100

Marks: +1, -0

The simple interest on a sum of

₹ 12000

at the end of

5 {yr}

₹ 6000

. What would have been the compound interest on the same sum at the same rate for

3 {yr}

when compounded annually?

Solution:

According to the question,

\;\text " Rate of interest "\; \;\; =\;{ {SI} × 100}/{\;\text " Principal "\; × \;\text " Time "\;}

\;\; =\;{6000 × 100}/{12000 × 5}=10 \%

Now, compound Interest for

3 {yr}

=

Principal

(1+\;{\;\text " Rate "\;}/{100})^{\;\text "Time "\;}

- Principal

\;\; =12000 ×(1+\;{10}/{100})^{3}-12000

\;\; =12000 × \;{11 × 11 × 11}/{1000}-12000

\;\; =15972-12000=₹ 3972

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