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SSC MTS 2023 PYQ — Question 9

SSC MTS - 02 May 2023 - Shift 2 • Quantitative Aptitude • Q9

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A sum fetched a simple interest of Rs. 3360 at a rate of 6% per year in 7 years. Find the sum.

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. Rs. 8000.

Given that 

S.I = 3360 

Let the sum be P

S.I = P×R×T100\frac{P × R × T}{100}

⇒ 3360 = P×6×7100\frac{P × 6 × 7}{100}

⇒ P = 8000

Hence, the sum is Rs. 8000.