Sarkari RiseLogin
SSC MTS 2022 · PYQ · Simple and Compound Interest · medium

The difference between compound interest and simple interest on a sum of ₹16,000 for two years is ₹160. Find the per annum rate of interest.

  1. A.11%
  2. B.10%✓ Correct
  3. C.12%
  4. D.15%

Explanation

For two years, CI – SI = P(R/100)². So 16000 × (R/100)² = 160 → R² = 100 → R = 10%. The rate is 10% per annum.
💡 Practice unlimited SSC MTS PYQs + AI-tracked progress on each topic. Sign up free →

More Simple and Compound Interest questions

Want more SSC MTS practice?

Free daily 10-Q quiz · adaptive mocks · 4,000+ verified PYQs · AI doubt solver in Hindi + English

Sign up freeMore Simple and Compound Interest practice