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SSC Sample Paper SSC-CGL TIER - I Sample Test Paper-5

  • question_answer
    Rs 1500 at the rate of 10% p.a. compound interest and Rs 2400 at the rate of 10% p.a. compound interest are invested for one year. While the interest is compounded half yearly, what is the difference between the interests on the two investments?

    A) Rs 88.40           

    B) Rs 94.60

    C) Rs 90.40           

    D) Rs 92.25

    Correct Answer: D

    Solution :

    C.I. on Rs 1500 = \[1500\left[ {{\left( 1+\frac{5}{100} \right)}^{2}}-1 \right]\] =  \[Rs\,\,1500\times \frac{41}{400}=Rs\,\,153.75\] C.I. on Rs 2400 \[\Rightarrow \] 2400 \[\times \frac{41}{400}\]= Rs 246 Required difference = Rs (246 - 153.75) =   Rs 92.25


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