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SSC CPO 2020 PYQ — Question 122

SSC CPO - 23 Nov 2020 - Shift 2 • Quantitative Aptitude • Q122

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If the difference between the compound interest and simple interest at 17% on a sum of money for 2 years ( compounded annually) is Rs 433.50, then the sum ( in Rs) is :

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Correct answer: C

Explanation

The correct answer is option 3 i.e. 15,000

For 2 years the difference between CI and SI :

CI - SI = P × (R100)2(\dfrac{R}{100})^2

433.50 = P × (17100)2(\dfrac{17}{100})^2

P = 4335000/289

P = Rs 15000