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SSC Sample Paper SSC CGL - Sample Paper-24

  • question_answer
    The compound interest on a sum for 2 yr is Rs. 832 and the simple interest on the same sum at the same rate for the same period is Rs. 800. What is the rate of interest?

    A) 6%                   

    B) 8%      

    C) 10%                             

    D) 12%

    Correct Answer: B

    Solution :

    Given, \[CI=Rs.\,832,\text{ }\] \[SI=Rs.\,800,\] \[T=2\,yr\] Since,    \[CI=P\left\{ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right\}\] \[\therefore \]      \[832=P\left\{ {{\left( 1+\frac{R}{100} \right)}^{2}}-1 \right\}\]   ?(i) Also,     \[CI=\frac{P\times R\times T}{100}\] \[\Rightarrow \]   \[800=\frac{P\times R\times 2}{100}\] \[\Rightarrow \]   \[P=\frac{40000}{R}\] \[\therefore \] From Eq. (i),             \[832=\frac{40000}{R}\left( \frac{{{R}^{2}}}{10000}+\frac{2R}{100} \right)\] \[\Rightarrow \]   \[832=4R+800\] \[\Rightarrow \]   \[R=\frac{32}{4}=8%\]


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