SarkariPYQ

SSC MTS 2022 PYQ — Question 70

SSC MTS - 26 July 2022 - Shift 3 • Quantitative Aptitude • Q70

Back to paper

A sum of money, when invested at the rate of 6.25% simple interest per annum, amounts to 118\frac{11}{8} times of itself in 'n' years. What is the value of 'n'?

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. 6

Let the principle be P -

So,

Amount = 11P8\frac{11P}{8}

Now,

Simple Interest = Amount - Principle = 11P8−P\frac{11P}{8}-P

Simple Interest = 3P8\frac{3P}{8}

P×R×n100=3P8\frac{P\times R\times n}{100}=\frac{3P}{8}

P×6.25×n100=3P8\frac{P\times 6.25\times n}{100}=\frac{3P}{8}

n = 6