Question : If the difference between the compound interest and simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is:
Option 1: Rs. 2000
Option 2: Rs. 4000
Option 3: Rs. 6000
Option 4: Rs. 8000
Correct Answer: Rs. 8000
Solution :
Rate,
Term,
Let the principal be Rs.
CI – SI = Rs. 20
Difference between CI and SI in 2 years =
So, 20 =
⇒
Hence, the correct answer is Rs. 8000.
SSC CGL Complete Guide
Candidates can download this ebook to know all about SSC CGL.