A sum of Rs7 500 amounts to Rs8 748 after 2 years at a certain rate per cent per annum compounded an...........

Quantitative Aptitude (MTS) Compound Interest

A sum of Rs7,500 amounts to Rs8,748 after 2 years at a certain rate per cent per annum compounded annually. What will be the

simple interest (in Rs) on the same sum for 3 years at double the earlier rate?

This questions was previously asked in

SSC MTS 7th October 2021 Shift-2

View All SSCMTS Previous Year Papers

4,000

6,000

4,200

3,600

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Explanation:

Correct option 4: 3,600

A = 8748
P = 7500
t = 2 year
r = ?
We know that
A = P(1+r/100)2
⇒ 8748 = 7500 (1 + r/100)2
⇒2916/2500 = (1 + r/100)2
⇒729/625 = (1 + r/100)2
⇒(27/25)2= (1 + r/100)2
⇒27/25 = 1 + r/100
⇒r/100 = 2/25
.. r = 8%
Now,
P = 7500
r = 8 x2 = 16%
t = 3 year
SI = ?
Sl = (px rx t)/100 = (7500 x 16 x 3)/100 = Rs. 3,600