Multiple Choice Questions

A sum of Rs12 500 amounts Rs16 250 in 4 years at simple interest per annum If the interest rate is i...........

Quantitative Aptitude (MTS) Simple Interest

A sum of Rs12,500 amounts Rs16,250 in 4 years at simple interest per annum. If the interest rate is increased by 2.5% per

annum, then the increased amount for the same period is:

This questions was previously asked in

SSC MTS 27th October 2021 Shift-3

Rs17,500

Rs17,000

Rs18,000

Rs18,250

- To find the simple interest rate:

- Principal (P) = Rs12,500

- Amount (A) = Rs16,250

- Time (T) = 4 years

- SI = A - P = Rs16,250 - Rs12,500 = Rs3,750

- Rate (R) = (SI / (P * T)) * 100 = (3,750 / (12,500 * 4)) * 100 = 7.5% per annum

- Increase rate by 2.5%: New rate = 7.5% + 2.5% = 10%

- Calculate new amount:

- New SI = (P * New Rate * T) / 100 = (12,500 * 10 * 4) / 100 = Rs5,000

- New Amount = P + New SI = Rs12,500 + Rs5,000 = Rs17,500

- Correct Option: 1 - Rs17,500

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