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

  • question_answer
    The compound interest on Rs. 6000 at 10% per annum for \[1\frac{1}{2}yr,\] when the interest being compounded annually, is

    A) Rs. 930

    B) Rs. 830

    C) Rs. 950

    D) Rs. 850

    Correct Answer: A

    Solution :

    [a] P = Rs. 6000, r = 10% and  \[n=\frac{3}{2}yr\] \[\therefore \]      \[A=6000\left( 1+\frac{10}{100} \right)\,\left( 1+\frac{10/2}{100} \right)\] \[=6000\times \frac{11}{10}\times \frac{21}{20}=\text{Rs}.\,\,6930\]             Hence, \[CI=A-P=6930-6000\]                                     = Rs. 930


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