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SSC Sample Paper SSC CHSL (10+2) Sample Test Paper-4

  • question_answer
    The difference between the compound interest (compounded annually) and the simple interest on a sum of Rs. 1000 at a certain rate of interest for 2 years is Rs. 10. The rate of interest per annum is

    A)  5%                              

    B)  6%

    C)  10%                  

    D)         12%

    Correct Answer: C

    Solution :

     When difference between the compound interest and simple interest on a certain sum of money for 2 years at r% rate is\[Rs.\,\,x\], then             \[x=Sum{{\left( \frac{r}{100} \right)}^{2}}\] \[\Rightarrow \]   \[10=1000{{\left( \frac{r}{100} \right)}^{2}}\] \[\Rightarrow \]   \[{{\left( \frac{r}{100} \right)}^{2}}=\frac{10}{1000}\]             \[\frac{r}{100}=\sqrt{\frac{1}{100}}=\frac{1}{10}\]


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