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SSC MTS 2019 PYQ — Question 57

SSC MTS Previous Year - 05 August 2019 - Shift 1 • Quantitative Aptitude • Q57

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A sum invested at compound interest (compounded anually) amounts to Rs. 750 at the end of first year and Rs. 900 at the end of second year. What is the sum?

Show answer & explanation

Correct answer: B

Explanation

Correct Answer is option 2 i.e. Rs. 625

Understanding

Application

Calculation

For first year:

A = Rs. 750

For second year:

A = Rs. 900

Difference = 900 – 750 = Rs. 150

(This is SI for 1st year)

 

Suppose principal = P

So,

r = 20%

150 = 750 × r × 1/100

⇒ r = 20

Now,

⇒ P = Rs. 625

750 = P (1 + 20/100)

⇒ P = 625