Question : A sum of Rs. 8,000 is divided into two parts. The simple interest on the first part, at a rate of 21% per annum, is equal to the simple interest on the second part, at a rate of 35% per annum. What is the interest (in Rs.) of each part?
Option 1: 1050
Option 2: 840
Option 3: 1400
Option 4: 1220
New: SSC CHSL Tier 2 answer key released | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 1050
Solution : Let the first part be $x$ and the second part be $(8000–x)$. Simple Interest (SI) = $\frac{(\text{Principal × Rate × Time})}{100}$ The simple interests earned on both parts are equal. Therefore, $\frac{(x × 21 × 1)}{100}=\frac{((8000–x) × 35 × 1)}{100}$ ⇒ $21x=35(8000–x)$ ⇒ $21x=280000–35x$ ⇒ $56x=280000$ $\therefore x=5000$ Simple interest (SI) = $\frac{5000 × 21 × 1}{100}$ = $1050$ Hence, the correct answer is Rs. $1050$.
Candidates can download this e-book to give a boost to thier preparation.
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Question : The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. The rate of interest for which the same amount of interest can be received on the same sum after 5 years is:
Question : A sum of Rs. 2,000 becomes Rs. 3,120 in two years at a certain rate of simple interest. What is the rate of interest per annum?
Question : If the difference between the simple interest and the compound interest for 3 years at the rate of 10% per annum on a certain sum is equal to Rs. 310, then that sum of money is:
Question : At a certain sum of money with the interest rate of 6% per annum for 4 years, the simple interest is Rs. 4500. Find the compound interest (compounding annually) of 2 years at the same sum when the rate of interest is 4% per annum.
Question : A person borrows Rs. 20000 at the rate of 6% per annum on simple interest for 3 years. He immediately lends it to another person at the rate of 8.5% per annum on simple interest for 3 years. What is the value of gain per year?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile