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

The difference between the compound interest and simple interest on a sum for 2 years at 10% p.a. is ₹15. What is the sum?

  1. A.₹1,500✓ Correct
  2. B.₹2,000
  3. C.₹1,200
  4. D.₹1,000

Explanation

For 2 years, difference between CI and SI = P(r/100)² = P(10/100)² = P/100. Setting P/100 = 15 gives P = ₹1,500.
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