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SSC Selection Post 2022 PYQ — Question 67

SSC Selection Post - Matriculation Level 2022 - 2 Aug 2022 - Shift 1 • Quantitative Aptitude • Q67

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On what sum of money will the difference between simple interest and compound interest for 2 years at 10% per annum be equal to Rs.250?

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Correct answer: A

Explanation

The correct answer is option 1 i.e. Rs.25,000.

Difference = P×(R100)2P \times \left(\frac{R}{100}\right)^2

250=P×(10100)2⇒250=P×1100⇒P=250×100=25000250 = P \times \left(\frac{10}{100}\right)^2 \Rightarrow 250 = P \times \frac{1}{100} \Rightarrow P = 250 \times 100 = 25000