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SSC CHSL 2022 · PYQ · Compound Interest · medium

At a certain rate of interest compounded annually, a sum amounts to ₹10,890 in 2 years and to ₹11,979 in 3 years. The sum is:

  1. A.₹8,000
  2. B.₹8,500
  3. C.₹9,000✓ Correct
  4. D.₹9,500

Explanation

Rate = (11979−10890)/10890 × 100 = 1089/10890 × 100 = 10%. So principal = 10890/(1.1)² = 10890/1.21 = ₹9,000.
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