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SSC Selection Post 2022 PYQ — Question 59

SSC Selection Post - Higher Secondary Level 2022 - 16 March 2022 - Shift 3 • Quantitative Aptitude • Q59

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A certain sum amounts to Rs.12,096 in 2 years and to Rs.12,852 in 3 years at x% p.a. interest compounded yearly. What will be the simple interest (in Rs.) on sum of Rs. 15,000 at (x + 4)% p.a. in 5 years?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 7,687.50.

Difference between the amounts of 3rd year and 2nd year = 12852 - 12096 = 756

Now, x = 75612096×100\frac{756}{12096} \times 100

⇒ x = 6.25%

Rate for simple interest = (x + 4)% = 10.25%

Now, SI = PRT/100

⇒ SI = 15000 × 5 × 10.25/100

⇒ SI = 7687.5