model 3 combination of si & ci Practice Questions Answers Test with Solutions & More Shortcuts
compound interest PRACTICE TEST [6 - EXERCISES]
model 1 basic compound interest using formula
model 2 at ci sum becomes ‘n’ times after ‘t’ years
model 3 combination of si & ci
model 4 difference in ci & si
model 5 ci with instalments
model 6 comparing sum in different years
Question : 26 [SSC CGL Prelim 2008]
The compound interest on a certain sum of money at 5% per annum for 2 years is Rs.246. The simple interest on the same sum for 3 years at 6% per annum is
a) Rs.432
b) Rs.435
c) Rs.430
d) Rs.450
Answer »Answer: (a)
Using Rule 1,
C.I. = P$[(1 + R/100)^T - 1]$
246 = P$[(1 + 5/100)^2 - 1]$
246 = P$[(21/20)^2 - 1]$
246 = P$({441 - 400}/400)$
246 = ${41P}/400$
P = ${246 × 400}/41$ = Rs.2400
SI = $\text"Principal × Time × Rate"/100$
= ${2400 × 3 × 6}/100$ = Rs.432
Question : 27 [SSC Asst Grade-III 2012]
The compound interest on a certain sum of money for 2 years at 10% per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be
a) Rs.400
b) Rs.350
c) Rs.380
d) Rs.375
Answer »Answer: (a)
If the principal be P then
C.I. = P$[(1 + R/100)^T - 1]$
420 = P$[(1 + 10/100)^2 - 1]$
420 = P$({121 - 100}/100)$
420 = ${P × 21}/100$
P = ${420 × 100}/21$ = Rs.2000
S.I. = ${PRT}/100 = {2000 × 10 × 2}/100$ = Rs.400
Using Rule 10,
Here, C.I. = Rs.420, R = 10%, S.I. = ?
C.I. = S.I.$(1 + R/200)$
420 = S.I.$(1 + 10/200)$
420 = S.I.$(210/200)$
S.I. = ${420 × 200}/210$ = Rs.400
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model 3 combination of si & ci Shortcuts »
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Click to Start..compound interest Shortcuts and Techniques with Examples
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model 1 basic compound interest using formula
Defination & Shortcuts … -
model 2 at ci sum becomes ‘n’ times after ‘t’ years
Defination & Shortcuts … -
model 3 combination of si & ci
Defination & Shortcuts … -
model 4 difference in ci & si
Defination & Shortcuts … -
model 5 ci with instalments
Defination & Shortcuts … -
model 6 comparing sum in different years
Defination & Shortcuts …
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