Paper 1 · Data Interpretation
UGC NET December 2023 (13.12.2023) Shift-II
Passage
The following table shows the number of employees working in five different colleges A to E, along with the ratio of Males to Females (M:F) among them. Based on the data in the table, answer the questions that follow.
College A: 3040 employees, ratio 13:6.
College B: 3360 employees, ratio 4:3.
College C: 2920 employees, ratio 9:11.
College D: 2760 employees, ratio 10:13.
College E: 2840 employees, ratio 13:7.
If the interest received by F is 20% of the sum invested by him, then how much more money as interest would he have earned if he had invested the money in compound interest?
ARs 700
BRs 600 ✓ Correct
CRs 300
DRs 400
Correct answer: (B) Rs 600 — F would have earned Rs 600 more as interest under compound interest.
Explanation
★F would have earned Rs 600 more as interest under compound interest.
★F's principal is 60000 for 2 years, and the total interest is 20 percent of it.
★This makes the simple interest rate 10 percent per year.
★Simple interest for 2 years is Rs 12000, giving an amount of Rs 72000.
★At 10 percent compounded yearly for 2 years the amount is 60000 times 1.1 squared, that is Rs 72600.
★The extra interest is 72600 minus 72000, which is Rs 600.
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