Question : If INR 72 amounts to INR 104.4 in 3 years, what will INR 120 amount to in 5 years at the same rate percent per annum?
Option 1: INR 450
Option 2: INR 330
Option 3: INR 210
Option 4: INR 215
Latest: SSC CGL Tier 1 Result 2024 Out | SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL Tier 1 Scorecard 2024 Released | SSC CGL complete guide
Suggested: Month-wise Current Affairs | Upcoming Government Exams
Correct Answer: INR 210
Solution : Given: INR 72 amounts to INR 104.4 in 3 years. Principal amount P 1 = INR 72, total amount A 1 = INR 104.4 and time T 1 = 3 years Simple Interest = 104.4 – 72 = INR 32.4 Let the rate of interest be $R$. Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ 32.4 = $\frac{72×R×3}{100}$ ⇒ $R=\frac{32.4×100}{72×3}$ ⇒ $R=15$% P 2 = 120, T 2 = 5 years Simple interest = $\frac{120×15×5}{100}=90$ ⇒ Amount = 120 + 90 = INR 210 Hence, the correct answer is INR 210.
Candidates can download this ebook to know all about SSC CGL.
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Question : A sum of INR 10,500 amounts to INR 13,650 in 2 years at a certain rate percent per annum simple interest. The same sum will amount to what in 1 year at the same rate if the interest is compounded half yearly (nearest to INR 1 )?
Question : A certain sum amounts to INR 3,640 in 2 years and INR 4,060 in 8 years at simple interest. Find the approximate rate percentage per annum.
Question : In what time will INR 10,000 at 4% per annum, produce the same interest as INR 8,000 does in 4 years at 5% Simple Interest?
Question : A sum of money amounts to INR 767 in 3 years, and to INR 806 in 4 years on simple interest at 6% per annum. What is the sum?
Question : When will INR 3,720 amount to INR 5,282.4 at 12% simple interest per annum?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile