The difference between compound interest and simple interest on a sum for 2 years at 20 % per annum is Rs. 200. If the i…
Q1 FREE PREVIEW
The difference between compound interest and simple interest on a sum for 2 years at 20 % per annum is Rs. 200. If the interest is compounded half yearly, then what is the difference (in Rs.) between compound and simple interest for 1st year?
✓ Correct answer: a) 50
ExplanationGiven, the difference between C.I and S.I for 2 years at 20% = Rs. 200 Now, CI - SI = When interest is half yearly then R = 10% and Time = 2 years Required difference = 1050 - 1000 = Rs. 50 Hence, Option A is the correct answer.
Practice more SSC CGL Quantitative Aptitude PYQs
See every question on Simple and Compound Interest, or browse the full SSC CGL question bank.
See all questions on Simple and Compound Interest →