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SSC Sample Paper Mock Test-6 SSC CGL Tear-II Paper-1

  • question_answer
    At a certain rate per annum, the simple interest on a sum of money for one year is Rs. 260 and the compound interest on the same sum for two years Rs. 540.80. The rate of interest per annum is

    A)  4%

    B)  6%

    C)  8%

    D)  10%

    Correct Answer: C

    Solution :

    Let the principal be Rs. x and rate of interest be r% annum.
    Now,     \[\text{SI=}\frac{\text{Principal}\,\,\text{ }\!\!\times\!\!\text{ }\,\,\text{Time}\,\,\text{ }\!\!\times\!\!\text{ }\,\,\text{Rate}}{\text{100}}\]
    \[260=\frac{x\times r}{100}\]                              ?(i)   
    \[\text{CI=P}\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right]\]
    \[540.80=x\left[ {{\left( 1+\frac{r}{100} \right)}^{2}}-1 \right]\]
    \[\Rightarrow \]   \[540.80=x\left[ 1+\frac{2r}{100}+\frac{{{r}^{2}}}{10000}-1 \right]\]
    \[\Rightarrow \]   \[540.80=\frac{2xr}{100}+\frac{\pi {{r}^{2}}}{1000}\]
    \[\Rightarrow \]   \[540.80=2\times 260+\frac{260\,r}{100}\]
    \[\Rightarrow \]   \[260\,r=54080-52000\]
    \[\Rightarrow \]   \[260\,r=2080\]
    \[\therefore \]      \[r=\frac{2080}{260}=8%\]


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