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SSC Sample Paper SSC CGL - Sample Paper-26

  • question_answer
    The compound interest on a certain sum for two years is Rs. 618 whereas the simple interest on the same sum at the same rate for two years is Rs. 600. The rate of interest per annum is

    A) 18%                             

    B) 9%

    C) 6%                   

    D) 3%

    Correct Answer: C

    Solution :

    Let the principal \[=Rs.\,P\] and rate of interest \[=r%\] According to question,             \[618=P\left[ {{\left( 1+\frac{r}{100} \right)}^{2}}-1 \right]\]       ?(i) and       \[600=\frac{P\times r\times 2}{100}\]                              ?(ii) From Eqs. (i) and (ii), we get \[r=6%\]      


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