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

  • question_answer
    What will be the amount of Rs. 60000 at the rate of interest of 4% for \[1\frac{1}{2}yr,\] if interest is calculated half-yearly?

    A) Rs. 63672.48

    B) Rs. 64896

    C) Rs. 6791.84

    D) Rs. 62424

    Correct Answer: A

    Solution :

    [a] \[\because \]P = Rs. 60000, r = 4% yearly and 2% half-years \[n=\frac{3}{2}yr=3\]half-years \[\therefore \]      \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\]             \[=60000{{\left( 1+\frac{2}{100} \right)}^{3}}\]             = Rs. 63672.48


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