Question : Two years ago, the value of my motorbike was Rs. 62,500. If the value depreciates by 4% every year, its value now is:
Option 1: Rs. 56,700
Option 2: Rs. 57,600
Option 3: Rs. 57,500
Option 4: Rs. 55,700
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Correct Answer: Rs. 57,600
Solution : Given: Two years ago, the price of the bike was Rs. 62,500. Rate of depreciation = 4% Solution: Its value depreciates by 4% every year. Value of the bike 1 year ago = 62500 – 4% of 62500 ⇒ Value 1 year ago = Rs. 62500 – $\frac{4}{100}$ × 62500 ⇒ Value 1 year ago = Rs. 60,000 Present value of the bike = 60000 – 4% of 60000 ⇒ Present value of the bike = Rs. 60000 – $\frac{4}{100}$×60000 ⇒ Present value of the bike = Rs. 57,600 Hence, the correct answer is Rs. 57,600.
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Question : The compound interest on Rs. 30000 at 7% per annum for $n$ years is Rs. 4347. The value of $n$ is:
Option 1: $3$ years
Option 2: $2$ years
Option 3: $4$ years
Option 4: $5$ years
Question : A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years will the same amount become Rs. 8000?
Option 1: 2 years
Option 2: 4 years
Option 3: 6 years
Option 4: 8 years
Question : A sum of Rs. 3000 amounts to Rs. 6000 in two years at compound interest. The interest for four years is:
Option 1: Rs. 9000
Option 2: Rs. 12000
Option 3: Rs. 6000
Option 4: Rs. 3000
Question : In 3 years, Rs. 3000 amounts to Rs. 3993 at $x$% compound interest compounded annually. The value of $x$ is ___.
Option 1: $10$
Option 2: $8$
Option 3: $5$
Option 4: $3\frac{1}{3}$
Question : A sum of Rs. 3200, invested at 10% p.a. compounded quarterly, amounts to Rs. 3362. Compute the time.
Option 1: $\frac{1}{2}$ year
Option 2: $1$ year
Option 3: $2$ years
Option 4: $\frac{3}{4}$ year
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