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SSC Selection Post 2020 PYQ — Question 66

SSC Selection Post - Matriculation Level 2020 - 14 Nov 2020 - Shift 1 • Quantitative Aptitude • Q66

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A sum amounts to ₹6,050 in 2 years and to ₹6,655 in 3 years at a certain rate percentage p.a. when the interest is compounded yearly. What is the simple interest on a sum of ₹6,000 at the same rate for 5343\over4 years?

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Correct answer: A

Explanation

The correct answer is option 1 i.e. ₹3,450.

Amount after 2 years = ₹6050

Amount after 3 years = ₹6655

So, interest for 3rd year = 6655 − 6050 = ₹605

Rate = 6056050605\over6050 × 100 =  10%

SI = PRT100PRT\over100

⇒ SI = 6000×10×23100×46000\times 10\times 23\over100\times4

⇒ SI = 15 × 230 = ₹3,450