Question : What amount a man would have received on a principal of Rs. 7,500 after two years at simple interest at the rate of 7 percent per annum?
Option 1: Rs. 8,400
Option 2: Rs. 8,550
Option 3: Rs. 7,600
Option 4: Rs. 7,400
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: Rs. 8,550
Solution : Given: Principal = Rs. 7500 Rate = 7% Time = 2 years Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ = $\frac{7500×7×2}{100}$ = 1050 Amount = Principal + simple interest = 7500 + 1050 = 8550 Hence, the correct answer is Rs. 8550.
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 : 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 invested INR 4,500 at 5% per annum and INR 5,500 at 8% per annum simple interest. Both investments were for 4 years each. The amount received from the lower rate of interest is what percent (rounded off to the nearest integer) of the amount received from the higher rate
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 : 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.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile