SSC CHSL 7 Jan 2017 Shift 3 Paper

Question : 68 of 100

Marks: +1, -0

A bank offers 10% compound interest per half year. A customer deposits Rs. 3600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is.

Rs 1116
Rs 2232
Rs 549
Rs 279

Validate

Solution:

Principal = Rs. 3,600 and Rate = 10%
Amount on half yearly basis =

P(1+R/{2×100})^{2×T}

=[3600(1+10/{2×100})^{2×1}]

[3600(1+10/{2×100})^{2×1/2}]

=[3600×(21/20)^2]

[3600×21/20]

=[9×441]+ [180×21]

=(9×21)× (21+20)

=9×21×41=Rs.7,749

∴ Compound Interest = Rs.(7749 - 7200) = Rs. 549

Go to Question:

Prev Question

Next Question