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SSC CHSL 2025 · PYQ · Simple and Compound Interest · medium

The amount at the end of the 2nd and 3rd years on a certain principal at CI is ₹9,680 and ₹10,648 respectively. Find the principal.

  1. A.₹7,000
  2. B.₹8,000✓ Correct
  3. C.₹8,800
  4. D.₹9,000

Explanation

Rate = (10648 − 9680)/9680 × 100 = 968/9680 × 100 = 10%. Amount after 2 years = P(1.1)² = 9680, so P = 9680/1.21 = ₹8,000.
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