35 Views

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


Team Careers360 7th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

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.

How to crack SSC CHSL

Candidates can download this e-book to give a boost to thier preparation.

Download Now

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books