Exams › SSC CGL (Prelims) › Maths

At 5% per annum compound interest, what principal will produce a compound interest of Rs 420 during the second year alone?

1. Rs 7000
2. Rs 5000
3. Rs 8000
4. Rs 6000

Correct answer: Rs 8000

Solution

After year 1 the amount is 1.05P; the second-year interest is 5% of this, i.e. 0.05 x 1.05P = 0.0525P = 420, giving P = 8000.

Related SSC CGL (Prelims) Maths questions

• The ages of two friends, Ram and Ravi, differ by 7 years. Ram’s mother Mayadevi is three times as old as Ram, and Ravi is four times as old as his brother Soham. The ages of Mayadevi and Soham differ by 65 years. Find the age of Mayadevi (in years).
• The area of a rectangle is 54 cm². If its length is 9 cm, what is its breadth?
• The perimeter of a rectangle is 48 cm. If its length is 14 cm, what is its breadth?
• What is 15% of ₹800?
• What is the product of the first four prime numbers?
• Solve: $\sqrt{256} + \sqrt{36}$

⚔️ Practice SSC CGL (Prelims) Maths free + battle 1v1 →