A sum of Rs2 400 is invested for 4 years at R p a simple interest and the simple interest received i...........

Quantitative Aptitude (MTS) Simple Interest

A sum of Rs2,400 is invested for 4 years at R% p.a, simple interest and the simple interest received is Rs1,152. Find the amount

received after 3 years when the same sum is invested at (R + 8) % p.a, simple interest.

This questions was previously asked in

SSC MTS 19th July 2022 Shift-3

Rs3,260

Rs3,180

Rs2,880

Rs3,840

- First, calculate the original rate of interest, R% p.a.

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

- Given: Principal = Rs2,400; SI = Rs1,152; Time = 4 years

- Substitute in the formula: 1,152 = (2,400 × R × 4) / 100

- Solve for R: R = 12%

- Calculate the amount received after 3 years at (R + 8)%:

- New rate: (12 + 8)% = 20%

- New SI for 3 years: SI = (2,400 × 20 × 3) / 100 = Rs1,440

- Total amount: Principal + SI = Rs2,400 + Rs1,440 = Rs3,840

- Option:4 - Rs3,840

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