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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    If the compound interest on a sum for 2 yr at \[12\frac{1}{2}%\] per annum is Rs. 510, the simple interest on the same sum at the same rate for the same period of time is [SSC CGL Tier II, 2014]

    A) Rs. 400

    B) Rs. 450

    C) Rs. 460

    D) Rs. 480

    Correct Answer: D

    Solution :

    [d] Here, \[CI=\text{Rs}\text{.}\,\,510,\]\[R=12\frac{1}{2}%=\frac{25}{2}%,\] \[SI=?\] As period of time is 2 yr So,       \[CI=SI\left( 1+\frac{R}{200} \right)\] \[\Rightarrow \]   \[510=SI\left[ 1+\frac{25}{2\times 200} \right]\]             \[510=SI\left[ 1+\frac{1}{16} \right]\] \[\Rightarrow \]   \[510=SI\left[ \frac{16+1}{16} \right]\]             \[SI=\frac{510\times 16}{17}=\text{Rs}.\,\,480\]


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