Exams › SSC CGL (Prelims) › Maths

A sum invested for 2 years at 5% per annum yields a compound interest of Rs 328. For the same sum, rate and time, what would the simple interest be?

1. Rs 320
2. Rs 308
3. Rs 300
4. Rs 287

Correct answer: Rs 320

Solution

From CI: 328 = P(0.1025), giving P = 3200. Then SI = 3200 x 5 x 2 / 100 = Rs 320.

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