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)?
Option 1: 1800
Option 2: 2000
Option 3: 2700
Option 4: 2400
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: 2000
Solution : Let the principal be $P$. Simple interest 1st $=\frac{\text{Principal × Rate × Time}}{100}$$=\frac{P\times 15\times 6}{100}=\frac{90P}{100}$ And, Simple interest 2nd $=\frac{P\times 18\times 9}{100}=\frac{162P}{100}$ According to the question, Simple interest 1st = Simple interest 2nd – 1440 ⇒ $\frac{90P}{100}=\frac{162P}{100}-1440$ ⇒ $\frac{162P-90P}{100}=1440$ ⇒ $72P=144000$ ⇒ $P=\frac{144000}{72}$ = INR 2000 Hence, the correct answer is 2000.
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 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.
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?
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 : 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 : 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.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile