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SSC Sample Paper SSC CHSL (10+2) Sample Test Paper-7

  • question_answer
    A bank gives compound interest on deposits at the rate of 5% for the first year, 6% for the second year and 10% for the third year. If a deposit amounts to RS. 12.243 at the end of third year, then the initial deposit (principal) was

    A)  RS. 11.500                  

    B)  RS. 10.000

    C)  RS. 10,500                  

    D)  RS. 11.000

    Correct Answer: B

    Solution :

     If the principal be Rs. P. then Amount \[=P\left( 1+\frac{{{R}_{1}}}{100} \right)\left( 1+\frac{{{R}_{2}}}{100} \right)\left( 1+\frac{{{R}_{3}}}{100} \right)\] \[\Rightarrow 12243\] \[=P\left( 1+\frac{5}{100} \right)\left( 1+\frac{6}{100} \right)\left( 1+\frac{10}{100} \right)\]             \[\Rightarrow \] \[12243=P\left( 1+\frac{1}{20} \right)\left( 1+\frac{3}{50} \right)\left( 1+\frac{1}{10} \right)\] \[\Rightarrow \] \[12243=P\times \frac{21}{20}\times \frac{53}{50}\times \frac{11}{10}\] \[\Rightarrow \] \[P=\frac{12243\times 20\times 50\times 10}{21\times 53\times 11}\] =Rs.10000


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