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

  • question_answer
    What sum will give Rs. 244 as the difference between simple interest and compound interest at 10% in \[1\frac{1}{2}yr\] compounded half yearly?

    A) Rs. 40000

    B) Rs. 36000

    C) Rs. 32000

    D) Rs. 28000

    Correct Answer: C

    Solution :

    [c] Compound interest at 10% in \[1\frac{1}{2}yr\] compounded half-yearly \[=P\left[ {{\left( 1+\frac{10}{200} \right)}^{3}}-1 \right]=0.157625\,P\] And simple interest \[=\frac{P\times 10\times 3}{100\times 2}\] = 0.15 P According to the question, 0.157625 \[P-0.15\,P=244\] \[\Rightarrow \]   0.007625 P= 244 \[\Rightarrow \]   \[P=\text{Rs}.\,32000\]


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