Multiple Choice Questions on In how many years will a sum of Rs 9 500 amount to Rs 11 780 at the rate of 8 per annum at sim........... for SSC CGL Exam Preparation

Simple Interest

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    . In how many years will a sum of Rs.9,500 amount to Rs.11,780 at the rate of 8% per annum at simple interest?

    This questions was previously asked in
    Combined Graduate Level Examination Tier I 2023

    3

    Correct Answer

    2

    Incorrect Answer

    4

    Incorrect Answer

    5

    Incorrect Answer
    Explanation:

    To determine how many years it will take for a sum of Rs. 9,500 to become Rs. 11,780 at an 8% simple interest rate, first compute the total interest needed and then use the simple interest formula.

    - Calculate total interest:

    - Final Amount = Principal + Interest

    - Rs. 11,780 = Rs. 9,500 + Interest

    - Interest = Rs. 11,780 - Rs. 9,500 = Rs. 2,280.

    - Calculate the number of years (n) using the simple interest formula:

    - Simple Interest (SI) = (Principal × Rate × Time) / 100

    - 2,280 = (9,500 × 8 × n) / 100

    - n = (2,280 × 100) / (9,500 × 8)

    - n = 3.

    - Hence, the correct option is Option:1 - 3.

    - So, the time taken for Rs. 9,500 to amount to Rs. 11,780 at 8% per annum is 3 years.


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