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

  • question_answer
    A sum is invested at compound interest payable annually. The interest in two successive years was Rs. 500 and Rs. 540. The sum is

    A) Rs. 3750

    B) Rs. 5000

    C) Rs. 5600

    D) Rs. 6250

    Correct Answer: D

    Solution :

    [d] SI on Rs. 500 for 1 yr \[=\text{Rs}.\,(540-500)=Rs.\,40\] Rate \[=\left( \frac{100\times 40}{500\times 1} \right)\] = 8% per annum Sum \[=\text{Rs}.\,\left( \frac{100\times 500}{8\times 1} \right)=\text{Rs}.\,\,6250\]


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