SarkariPYQ

SSC MTS 2023 PYQ — Question 9

SSC MTS - 09 May 2023 - Shift 1 • Quantitative Aptitude • Q9

Back to paper

What is the compound interest on Rs. 10000 in 1 year 6 month at 10% per annum, the interest being compounded half-yearly?

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. Rs.1576.25.

Given that

Rs. 10000 is compounded half-yearly for 1 year 6 months at 10% per annum

Amount = P(1 + R/2100\frac{R/2}{100})2t = 10000(1 + 5100\frac{5}{100})3 = 11576.25

Hence, C.I = Amount - P = 11576.25 - 10000 = 1576.25