Multiple Choice Questions

At simple interest a sum of Rs 6 400 becomes Rs 8 320 in 3 years What will Rs 7 2000 become in 5 yea...........

Quantitative Aptitude (CGL) Simple Interest

At simple interest a sum of Rs 6,400 becomes Rs 8,320 in 3 years. What will Rs 7,2000 become in 5 years at the same rate?

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ssc cgl 2023 pre

Rs 10,000

Rs 10,600

Rs 10,800

Rs 10,400

To solve the problem:

- We know the initial sum (P) is Rs 6,400.

- In 3 years, it becomes Rs 8,320.

- The interest earned (I) is Rs 8,320 - Rs 6,400 = Rs 1,920.

- Using the simple interest formula: I = P * R * T / 100, we find the rate (R).

- Rs 1,920 = Rs 6,400 * R * 3 / 100 results in R = 10%.

- Now, use this rate for Rs 7,200 over 5 years.

- Simple Interest for Rs 7,200 at 10% for 5 years: I = Rs 7,200 * 10 * 5 / 100 = Rs 3,600.

- Total amount = Principal + Interest = Rs 7,200 + Rs 3,600 = Rs 10,800.

- Option 3 is the correct answer: Rs 10,800.

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