2. Sample Papers
  3. SSC

SSC Sample Paper SSC CGL - Sample Paper-21

  • question_answer
    A sum of money invested at compound interest amount in 3 yr to Rs. 2400 and in 4 yr to Rs. 2520. The interest rate per annum is

    A) 5%                   

    B) 6%

    C) 10%                             

    D) 12%

    Correct Answer: A

    Solution :

    We know that a certain sum of money invested at compound interest, compounded annually, becomes \[Rs.\,{{A}_{1}}\] in n yr and \[Rs.\,{{A}_{2}}\] in \[(n+1)yr\] Then, rate of interest, \[r=\frac{100({{A}_{2}}-{{A}_{1}})}{{{A}_{1}}}\] per annum. Here,     \[{{A}_{1}}=Rs.2400,\] \[n=3\,yr\] and             \[{{A}_{2}}=Rs.\,2520\] and \[{{r}_{2}}=4\,yr\] \[\therefore \]  Rate of interest \[\frac{=100(2520-2400)}{2400}%=5%\]


You need to login to perform this action.
You will be redirected in 3 sec spinner