10 Views

Question : A certain sum becomes Rs. 1020 in 5 years and Rs. 1200 in 8 years at simple interest. What is the value of the principal?

Option 1: Rs. 820

Option 2: Rs. 780

Option 3: Rs. 700

Option 4: Rs. 720


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Rs. 720


Solution : Simple interest for 3 years = $1200 - 1020 = 180$ (or 60 for 1 year)
Then simple interest for 5 years = $60 \times 5 = 300$
The sum becomes 1020 in 5 years, hence, principal amount = $1020 - 300 = 720$
Hence, the correct answer is Rs. 720.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books