Question 12
SSC-CGL 2020 Mar 3 Shift 2
A certain amount yields an interest of Rs. 1200 when invested for 3 years at a simple interest of 5%. Calculate the interest if the interest had, instead, been compounded annually at the same rate?
Solution in Short
Useful Short Cut: Difference between the compound and simple interest at a rate of R% for 3 years is = [R(3 + R)/3] x SI, where SI is the simple interest after 3 years.Given
SI for 2 years given Rs.
Diff. between SI and CI after 3 yrs:
Useful Shortcuts for 2 years
Difference between SI and CI on a principle P after 2 years:
If SI after 2 years is , then
Useful Shortcuts for 3 years
Difference between SI and CI on a principle P after 3 years:
If SI after 3 years is , then

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