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SSC Sample Paper SSC CGL - Sample Paper-3

  • question_answer
    The compound interest on a certain sum of money at 5% for 2 yr is Rs. 328. The simple interest on that sum at that same rate and for the same period of time will be

    A)  Rs. 320

    B)  Rs. 322

    C)  Rs. 325            

    D)  Rs. 326

    Correct Answer: A

    Solution :

    \[CI=P\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right]\] \[\Rightarrow \]   \[328=P\left[ {{\left( 1+\frac{5}{100} \right)}^{2}}-1 \right]\] \[\Rightarrow \]   \[328=P\left[ \left( \frac{21\times 21}{400} \right)-1 \right]\] \[\Rightarrow \]   \[328=P\left[ \frac{441-400}{400} \right]\] \[\Rightarrow \]   \[P=\frac{328\times 400}{41}=Rs.\,3200\] Now,     \[I=\frac{PRT}{100}\]             \[=\frac{3200\times 5\times 2}{100}=Rs.\,320\]   


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