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SSC CGL 2023 PYQ — Question 69

SSC CGL - 21 July 2023 - Shift 3 • Quantitative Aptitude • Q69

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A certain amount is lent at x% p.a. simple interest for 3 years. Instead, if the amount was lent at 3x% p.a. simple interest for 'y' more years, then the simple interest would have been seven times the earlier interest. What is the value of y?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 4.

Let the principal amount be P.

The interest rate for the first scenario is x% per annum.

The time for the first scenario is 3 years.

The interest rate for the second scenario is 3x% per annum.

The time for the second scenario is 3 + y years.

For the first scenario:

Simple Interest = P×x×3100=3Px100\frac{P×x×3}{100} = \frac{3Px}{100}

For the second scenario:

Simple Interest = P×3x×(3+y)100=3Px(3+y)100\frac{P×3x×(3+y)}{100} = \frac{3Px(3+y)}{100}

According to the question:

⇒ 7 × 3Px100 \frac{3Px}{100} = 3Px(3+y)100 \frac{3Px(3+y)}{100}

⇒ 3 + y = 7

⇒ y = 7 − 3 = 4 years