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SSC Sample Paper Mock Test-3 SSC CGL Tear-II Paper-1

  • question_answer
    The amount and the compound interest on Rs. 100000 compounded quarterly for 9 months at the rate of 4% per annum is

    A)  Rs. 106060 and Rs. 6060.10

    B)  Rs.103030 and Rs. 3030.10

    C)  Rs.103030.10 and Rs. 3030.10

    D)  Rs.106060.10 and Rs. 6060.10

    Correct Answer: C

    Solution :

    P = Rs. 100000 Time, T = 9 months = 3 quarter yr R =4% per annum = 1 % quarterly \[\therefore \]\[A=100000{{\left( 1+\frac{1}{100} \right)}^{3}}=100000{{\left( \frac{101}{100} \right)}^{3}}\] \[=100000\times \frac{101}{100}\times \frac{101}{100}\times \frac{101}{100}\]= Rs. 103030.10 Also, compound interest\[=A-P\]=Rs. 103030.10 \[-\]Rs. 100000 Compound interest = Rs. 3030.10


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