In how many years The simple interest earned on Rs 6000 at an interest rate of 5 per annum will be e...........

Quantitative Aptitude (MTS) Simple Interest

In how many years, The simple interest earned on Rs. 6000 at an interest rate of 5% per annum will be equal to simple interest

earned on Rs. 2000 at the rate of 4% per annum for 30 years?

This questions was previously asked in

SSC MTS 15th July 2022 Shift-3

6 years

12 years

20 years

8 years

Let's break down the problem:

- Simple interest from Rs. 2000 at 4% for 30 years:

- Formula: \(SI = \frac{P \times R \times T}{100}\)

- \(SI = \frac{2000 \times 4 \times 30}{100} = 2400\)

- Determine the years for Rs. 6000 at 5% to earn Rs. 2400:

- Formula: \(SI = \frac{P \times R \times T}{100}\)

- \(2400 = \frac{6000 \times 5 \times T}{100}\)

- Solve for T: \(2400 = 300T \Rightarrow T = 8\)

- Option 4: 8 years is correct.

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