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SSC Sample Paper SSC CGL - Sample Paper-15

  • question_answer
    On a certain sum of money lent out at 16% per annum the difference between the compound interest for 1 yr, payble half yearly, and the simple interest for 1 yr is Rs. 56. The sum is

    A) Rs. 1080                       

    B) Rs. 7805

    C) Rs. 8750           

    D) Rs. 5780

    Correct Answer: C

    Solution :

    Rate of interest = 8% per half-year Time = 2 half year Difference of interests \[=\frac{\text{Principal}\times {{(Rate)}^{2}}}{{{(100)}^{2}}}\] \[\Rightarrow \]   \[56=\frac{P\times {{(8)}^{2}}}{{{(100)}^{2}}}\] \[\Rightarrow \]   \[P=\frac{56\times 10000}{64}=Rs.\,8750\]


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