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SSC Selection Post 2022 PYQ — Question 56

SSC Selection Post - Graduation Level 2022 - 4 Aug 2022 - Shift 4 • Quantitative Aptitude • Q56

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What is the difference between the compound interests on Rs. 8000 for 1 year at 6% per annum compounded yearly and half-yearly? (In Rs.)

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Correct answer: C

Explanation

The correct answer is Option 3 i.e. 7.2.

Difference =8000(1+3100)2−8000(1+6100)=8000(1+\frac{3}{100})^2-8000(1+\frac{6}{100})

= 8000 × (103/100)2 - (8000 × 106/100)

= 8487.2 - 8480

= 7.2