A certain sum amounts to 291600 in 2 years and to Rs314928 in 3 years on compound interest compounde...........

Quantitative Aptitude (CGL) Compound Interest

A certain sum amounts to ?291600 in 2 years and to Rs314928 in 3 years on compound interest compounded annually. How

much will be the simple interest (in Rs) on Rs0000 at the same rate for 2 years?

This questions was previously asked in

SSC CGL 16th August 2021 Shift-3

6400

8000

7500

9600

To find the simple interest on Rs 0000 (which seems like a typo, assuming principal is Rs 10000), we first need the rate of interest.

- ?291600 to ?314928 in 1 year on compound interest means growth is 7.9982%.

- For CI formula: A = P(1 + r/100)^n, r from above gives 7.9982%.

- For simple interest (SI), formula: SI = P * R * T/100.

- P = ?10000, R = 7.9982, T = 2 years. Calculate SI.

- SI = 10000 * 7.9982 * 2 / 100 = ?1600.

Option:1, ?6400 - (Correct)

- Option:2, ?8000

- Option:3, ?7500

- Option:4, ?9600

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