SSC Selection Post 2020 PYQ — Question 73

The correct answer is option 1 i.e. ₹3,864.

 

principal amount P = 8,400

the amount after 2 years A=10 , 164, and the time t = 2 years.

$A = P \left(1 + \frac{r}{100}\right)^t$

⇒ $10,164 = 8,400 \left(1 + \frac{r}{100}\right)^2$

⇒ $\frac{10,164}{8,400} = \left(1 + \frac{r}{100}\right)^2$

⇒ $1.21 = \left(1 + \frac{r}{100}\right)^2$

⇒$\sqrt{1.21} = 1 + \frac{r}{100}$

⇒ $1.1 = 1 + \frac{r}{100}$

⇒ $\frac{r}{100} = 1.1 - 1 = 0.1$

⇒ r = 0.1 × 100 = 10%

SI = P × r × t / 100

SI = $\frac{8,400 \times 10 \times 4.6}{100}$

SI = $\frac{8,400 \times 46}{100}$

SI =$\frac{386,400}{100} = 3,864$