SSC CGL 2025 PYQ — Question 69

SSC CGL - 17 Sep 2025 - Shift 2 • Quantitative Aptitude • Q69

If ₹5000 amounts to ₹6050 over 2 years with compound interest, what is the annual interest rate?

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. 10%.

A=P(1+R100)nA = P \left( 1 + \frac{R}{100} \right)^n

⇒ 6050=5000(1+R100)26050 = 5000 \left( 1 + \frac{R}{100} \right)^2

⇒ (1+R100)2=60505000=1.21\left( 1 + \frac{R}{100} \right)^2 = \frac{6050}{5000} = 1.21

⇒ 1+R100=1.21=1.11 + \frac{R}{100} = \sqrt{1.21} = 1.1

⇒ R100=1.1−1=0.1\frac{R}{100} = 1.1-1=0.1

⇒ R = 10%