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Banking Quantitative Aptitude Sample Paper Quantitative Aptitude Sample Paper-1

  • question_answer
    A certain amount of money earns Rs. 540 as simple interest in 3 yr. If it earns a compound interest of Rs. 376.20 at the same rate of interest in 2 yr, then find the amount.                                              [SSC (CPO) 2015]

    A) Rs. 1600

    B) Rs. 2000

    C) Rs. 1800

    D) Rs. 2100

    Correct Answer: B

    Solution :

    [b] Here, SI =540 and t = 3 yr
    \[\therefore \] \[\frac{P\times 3\times r}{100}=540\]\[\Rightarrow \]\[r=\frac{540\times 100}{3P}=\frac{18000}{P}\]
    Now, CI = 376.20 and t = 2 yr
    \[\Rightarrow \]376.20
    \[=P\,\,\left[ {{\left( 1+\frac{18000}{100P} \right)}^{2}}-1 \right]=P\left[ {{\left( 1+\frac{180}{P} \right)}^{2}}-1 \right]\]  \[=P\,\,\left[ \frac{{{P}^{2}}+32400+360P-{{P}^{2}}}{{{P}^{2}}} \right]\]
    \[376.20=\frac{32400+360P}{P}\]
    \[\Rightarrow \]   \[\,376.20P=32400+360P\]
    \[\Rightarrow \]   \[16.20P=32400\]\[\Rightarrow \]\[P=Rs.\,\,2000\]
     


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