Exams › SSC CGL (Prelims) › General

Person A invests an amount x at 5% per annum simple interest. His brother B invests an amount y at 10% per annum compound interest (compounded annually). At the end of one year, the interest earned by B is exactly twice the interest earned by A. What is the ratio y : x?

1. 3 : 2
2. 1 : 1
3. 2 : 1
4. 2 : 3

Correct answer: 1 : 1

Solution

Interest earned by A = 0.05x. Interest earned by B = 0.10y (after 1 year, CI equals SI). Given 0.10y = 2 x 0.05x => 0.10y = 0.10x => y = x. So y : x = 1 : 1.

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