On a simple interest Rs 708 becomes Rs 944 in four years If the rate of interest is increased by 5 t...........

Quantitative Aptitude (MTS) Simple Interest

On a simple interest, Rs. 708 becomes Rs. 944 in four years. If the rate of interest is increased by 5%, then Rs. 675 will become

how much in 4 years

This questions was previously asked in

SSC MTS 7th July 2022 Shift-1

Rs965

Rs1,075

Rs1,035

Rs1,145

- Initial scenario: Rs. 708 becomes Rs. 944 in 4 years.

- Simple interest earned = Rs. 944 - Rs. 708 = Rs. 236.

- Using the simple interest formula, I = PRT/100:

- Rs. 236 = Rs. 708 * R * 4 / 100. Solve for R.

- R = (236 * 100) / (708 * 4) = 8.33% approximately.

- New rate when increased by 5% = 8.33% + 5% = 13.33%.

- For Rs. 675 in 4 years, the interest:

- I = 675 * 13.33 * 4 / 100 = Rs. 360 (approximately).

- Total = Principal + Interest = Rs. 675 + Rs. 360 = Rs. 1,035.

- Options:

- Option 1: Rs. 965

- Option 2: Rs. 1,075

- Option 3: Rs. 1,035

- Option 4: Rs. 1,145

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