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SSC Selection Post 2020 PYQ — Question 53

SSC Selection Post - Matriculation Level 2020 - 10 Nov 2020 - Shift 1 • Quantitative Aptitude • Q53

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A person lent out a certain sum at 12% p.a. simple interest for 10 years; the interest was ₹2,148 more than the sum. The sum was:

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Correct answer: A

Explanation

The correct answer is option 1 i.e. ₹10,740.

SI  = P×R×T100\frac{P \times R \times T}{100}

SI  =P×12×10100=120P100=1.2P \frac{P \times 12 \times 10}{100} = \frac{120P}{100} = 1.2P

Interest is ₹2,148 more than the principal  SI = P + 2148

⇒1.2P = P + 2148 ⇒ 0.2P = 2148

⇒ P = 21480.2\frac{2148}{0.2} = 10,740