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
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
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.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : If Rs. 8,500 becomes Rs. 11,050 in 6 years at a certain rate of simple interest, and the rate then becomes 1.8 times higher, what will be the amount after 5 years on the same principal?
Question : A sum of Rs. 400 becomes Rs. 448 at simple interest in 2 years. In how many years will the sum of Rs. 550 amounts to Rs. 682 at the same rate?
Question : The simple interest on a certain sum of money for 2 years at 5% is Rs. 1600. The compound interest at the same rate after 3 years (interest compounded annually) is:
Question : A person lent a certain sum of money at the annual rate of 25 percent on simple interest. In 6 years the interest amounted to Rs. 360 more than the sum lent. What is the sum lent?
Question : A sum of Rs. 4,000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352, the sum lent at 8% is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile