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SSC Selection Post 2020 PYQ — Question 51

SSC Selection Post - Graduation Level 2020 - 14 Dec 2020 - Shift 3 • Quantitative Aptitude • Q51

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If the difference between the compound and simple interest on a certain sum of money for 2 years at 8% per annum is ₹160, find the sum.

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Correct answer: D

Explanation

The correct answer is Option 4 i.e. ₹25,000.

Difference = PR21002PR^2\over100^2

here, P = Principal, R = Rate

⇒ 160 = P×821002P\times8^2\over100^2

⇒ P = ₹25000