Please enter the following details
Free Daily Targets & Mocks
Study Material & Formulas PDFs
1 on 1 Mentorship
Question 62
The compound interest on a certain sum for 2 years at 3% per annum is ₹ 101.50. On the same principal, what will be the simple interest at same rate in same time?
Solution
$$P(1+\frac{R}{100})^{n}-P$$=101.5
$$P(1+\frac{3}{100})^{2}-P$$=101.5
P(3/100)(203/100)=101.5
P=5000/3
I=PTR/100
I=5000*2*3/300
I=100
Create a FREE account and get:
- Free SSC Study Material - 18000 Questions
- 230+ SSC previous papers with solutions PDF
- 100+ SSC Online Tests for Free
