SarkariPYQ

SSC Selection Post 2022 PYQ — Question 53

SSC Selection Post - Matriculation Level 2022 - 7 Feb 2022 - Shift 2 • Quantitative Aptitude • Q53

Back to paper

What is the difference (in ₹, to the nearest rupee) between the simple interest and compound interest on ₹24500 in two years at the rate of 8% per annum? The compound interest is compounded annually.

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. 157.

Difference = PR21002PR^2\over100^2

Difference = 24500×82100224500\times8^2\over100^2 = 245×64100245\times64\over100 = 156.8 or 157 (approx)