57 Views

Question : A sum of money at simple interest amounts to Rs. 6,000 in 4 years and to Rs. 6,750 in 7 years at the same rate percent per annum of interest. The sum (in Rs.) is:

Option 1: 5,100

Option 2: 4,800

Option 3: 4,000

Option 4: 5,000


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: 5,000


Solution : The difference between the amounts after 7 years and 4 years = Rs. 6750 – Rs. 6000 = Rs. 750, is the simple interest for 3 years.
Therefore, the simple interest for 1 year = $\frac{750}{ 3}$ = Rs. 250
The simple interest for 4 years = Rs. 250 × 4 = Rs. 1000
We know that the amount (Rs. 6000) is the sum of the principal and the simple interest for 4 years.
Therefore, the principal = Rs. 6000 – Rs. 1000 = Rs. 5000
Hence, the correct answer is 5,000.

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