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SSC Sample Paper SSC CGL - Sample Paper-30

  • question_answer
    The difference between the simple interest and compound interest on a certain sum of money for 2 yr at 4% per annum is Rs. 1. The sum is

    A) Rs. 2500                       

    B) Rs. 2400

    C) Rs. 2600                       

    D) Rs. 625

    Correct Answer: D

    Solution :

    We know that the SI and CI on a certain sum of money for 2 yr at r% per annum is Rs. x, then \[P=x{{\left( \frac{100}{r} \right)}^{2}}\] Here      \[x=Rs.\,1,\] \[r=4%\] \[\therefore \]      \[P={{\left( \frac{100}{4} \right)}^{2}}={{(25)}^{2}}=Rs.\,625\]


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