Question : Rs. P is invested at 5% per annum at simple interest. After $T$ years an interest of Rs. 82 is earned and the amount becomes Rs. 902. What is the value of $T$?
Option 1: 1 year
Option 2: 2 years
Option 3: 4 years
Option 4: 3 years
New: SSC CHSL tier 1 answer key 2024 out | 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: 2 years
Solution : The interest earned = Rs. 82 Amount = Simple interest + Principal ⇒ 902 = 82 + Principal $\therefore$ Principal = 820 Time = $T$ years Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ $82=\frac{820\times T\times 5}{100}$ $\therefore T = 2$ Hence, the correct answer is 2 years.
Candidates can download this e-book to give a boost to thier preparation.
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
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 : 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?
Question : In $t$ years, the simple interest earned on a certain amount at the rate of 10% per annum is $\frac{5}{8}$th of the principal amount. If the rate of interest is made three-fourths of 10% and the simple interest remains the same, which of the following statements is true about
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 : 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:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile