A certain sum on simple interest becomes Rs49 600 in 3 years and Rs56 000 in 5 years If the rate of ...........

Quantitative Aptitude (CGL) Simple Interest

A certain sum on simple interest becomes Rs49,600 in 3 years and Rs56,000 in 5 years. If the rate of interest had been 2%, more,

then in how many years would the sum have doubled:

This questions was previously asked in

SSC CGL 12th April 2022 Shift-3

- To find the rate of interest, we calculate the interest for 2 years (Rs56,000 - Rs49,600 = Rs6,400).

- The interest for 1 year is Rs3,200, indicating Rs6,400 for 2 years.

- The principal sum can be deduced from (Rs49,600 - 3 x Rs3,200 =) Rs40,000.

- The rate of interest is (Rs3,200/Rs40,000) x 100% = 8% per annum.

- If the interest rate increases by 2%, the new rate becomes 10% per annum.

- To double the sum at 10% simple interest, we calculate the time:

- 100% / 10% = 10 years.

- Option:1 (10 years) is the correct choice.

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