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

  • question_answer
    If the simple interest on a sum of money for 2 yr at 5% per annum is Rs. 50, what will be the compound interest on the same sum at the same rate for the same time?

    A) Rs. 51.25

    B) Rs. 52

    C) Rs. 54.25

    D) Rs. 60

    Correct Answer: A

    Solution :

    [a] Sum \[=\text{Rs}\text{.}\left( \frac{100\times 50}{2\times 5} \right)=\text{Rs}.\,\,500\] CI \[=\text{Rs}.\,\left[ 500\times {{\left( 1+\frac{5}{100} \right)}^{2}}-500 \right]\] \[=\text{Rs}.\,\left[ 500\times \frac{21}{20}\times \frac{21}{20}-500 \right]\]


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