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Multiple Choice Questions
1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 5% per annum is Rs 45. The sum is
(A): Rs 36000
(B): Rs 72000
(C): Rs 18000
(D): Rs 54000
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By: anil on 05 May 2019 02.08 am
Let the given sum = Rs. $$100x$$ Rate of interest = 5% and time period = 2 years Compound interest = $$P [(1 + frac{R}{100})^T - 1]$$ = $$100x [(1 + frac{5}{100})^2 - 1]$$ = $$100x [(frac{21}{20})^2 - 1] = 100x (frac{441 - 400}{400})$$ = $$100x imes frac{41}{400} = frac{41 x}{4}$$ Simple interest = $$frac{P imes R imes T}{100}$$ = $$frac{100x imes 5 imes 2}{100} = 10x$$ => Difference between simple and compound interests = $$frac{41 x}{4} - 10x = 45$$ => $$frac{41x - 40x}{4} = 45$$ => $$x = 4 imes 45 = 180$$ $$ herefore$$ Value of given sum = $$100 imes 180 = Rs. 18,000$$ => Ans - (C)
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SSC CHSL 8 Feb 2017 Evening Shift
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