Multiple Choice Questions

Ramya lent a certain sum of money at 4 simple interest to Seema and in 8 years the interest amounted...........

Quantitative Aptitude (MTS) Simple Interest

Ramya lent a certain sum of money at 4% simple interest to Seema and in 8 years the interest amounted to Rs3,400 less than

the sum lent. Find the sum lent by Ramya to Seema.

This questions was previously asked in

SSC MTS 19th July 2022 Shift-3

Rs3,050

Rs6,100

Rs8,200

Rs5,000

- To determine the sum lent, we use the formula for simple interest: $Interest = Principal \times Rate \times Time$ .

- Here, the interest is Rs3,400 less than the principal: $Principal \times 4 % \times 8 = Principal - 3400$ .

- Simplified: $0.32 \times Principal = Principal - 3400$ .

- Solving, we find $Principal = \frac{3400}{0.68} = 5000$ .

- Option 1: Rs3,050 - Too low, as it would require an error in interest calculations.

- Option 2: Rs6,100 - Higher than needed to match the interest discrepancy.

- Option 3: Rs8,200 - Unnecessary, would yield a larger gap.

- Option 4: Rs5,000 - Correct as calculated above.

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