Question : The simple interest on a certain sum for 3 years at 8% per annum is INR 9120 less than the simple interest on the same sum for 7 years at 8% per annum. Find the sum.
Option 1: INR 28,500
Option 2: INR 28,250
Option 3: INR 28,750
Option 4: INR 28,000
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: INR 28,500
Solution : Use the formula: Simple interest $= \frac{\text{Principal × Rate × Time}}{100}$, to find the unknown value from the known value. Given: Simple interest for 3 years is INR 9,120 less than the simple interest for 7 years. So, $P \times \frac{8 \times 7}{100} - P \times \frac{8 \times 3}{100}$ = 9120 ⇒ $P \times \frac{8 \times 4}{100}$ = 9120 ⇒ $P = \frac{9120}{\frac{8 \times 4}{100}}$ = INR 28,500 Hence, the correct answer is INR 28,500.
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 : The difference between the simple and compound interest on a certain sum of money at an $8\%$ rate of interest per annum for two years is INR 56. Find the sum.
Question : The simple interest on a sum of money in 6 years at the rate of 15% per annum is INR 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in INR)?
Question : A man borrowed a certain sum of money at the rate of 10% per annum simple interest for the first three years and 15% per annum simple interest for the period beyond three years. If he pays a total interest of INR 2,884.50 at the end of 7 years, then the sum of money (in INR)
Question : If the difference between the compound interest and simple interest on a certain sum of money for 3 years at the rate of 4% per annum is INR 76, then what is the sum?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile