Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

If the compound interest on a sum at the rate of 15% p.a. for 2 years is Rs. 225.75, then find simple interest of same amount for same year and same rate of interest.

Options:

210

223

215

230

Correct Answer:

210

Explanation:

C.I. @ 15%pa for 2 years = 32.25%

S.I. @ 15%pa for 2 years = 30%

ATQ,

⇒ P × 32.25% = 225.75

⇒ P × 1% = \(\frac{225.75}{32.25}\) = 7

⇒ P × 30% = 30× 7 = 210