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SSC Selection Post 2020 PYQ — Question 71

SSC Selection Post - Matriculation Level 2020 - 9 Nov 2020 - Shift 1 • Quantitative Aptitude • Q71

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The difference between the compound interest (compounded yearly) and the simple interest for 2 years on a certain sum at 5% per annum is ₹25. The sum is:

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Correct answer: C

Explanation

The correct answer is option 3 i.e. ₹10,000.

CI - SI = P(R100)2P \left( \frac{R}{100} \right)^2

25=P(5100)2=P×2510,00025 = P \left( \frac{5}{100} \right)^2= P \times \frac{25}{10{,}000}

P=25×10,00025=₹10,000P = \frac{25 \times 10{,}000}{25} = \boxed{₹10{,}000}