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?
Option 1: 5 years
Option 2: 3 years
Option 3: 4 years
Option 4: 6 years
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: 4 years
Solution : We have, Interest produced at INR 8,000 in 4 years at 5%. Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ $SI = \frac{8000×5×4}{100} = 1600$ The same interest is produced at INR 10,000 at 4% per annum in $T$ years. $1600 = \frac{10000×4×T}{100}$ ⇒ $T = \frac{1600×100}{10000 \times4} = 4$ years Hence, the correct answer is 4 years.
Candidates can download this ebook to know all about SSC CGL.
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Question : A man invests a total sum of INR 10,000 in a company. A part of the sum was invested at 10% simple interest per annum and the remaining part, at 15% simple interest per annum. If the total interest accrued in two years equals INR 2,400, the sum invested at 15% simple
Question : When will INR 3,720 amount to INR 5,282.4 at 12% simple interest per annum?
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 : The simple interest on a certain sum for 3 years at 14% p.a. is INR 4,200 less than the simple interest on the same sum for 5 years at the same rate. Find the sum.
Question : The simple interest on a certain sum at the rate of 12.5% per annum for 6 years is INR 13,500 less than the principal. Find the simple interest.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile