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SSC CPO 2024 PYQ — Question 114

SSC CPO - 29 June 2024 Shift 2 • Quantitative Aptitude • Q114

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If the simple interest on a certain sum of money for 20 months at the rate of 19.2% per annum exceeds the simple interest on the same sum for 15 months at the rate of 11.2% p.a. by ₹2,920, then what is the sum (in ₹, to the nearest hundreds)?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 16,200.

Let the sum of money be ₹x.

SI=P×R×T100SI = {{P \times R \times T}\over 100}

According to the given question,

x×2012×19.2100−x×1512×11.2100{{x \times {20 \over 12} \times 19.2}\over 100} - {{x \times {15 \over 12} \times 11.2} \over 100} = 2920

⇒ x×2012×19.2−x×1512×11.2{x \times {20 \over 12} \times 19.2} - {x \times {15 \over 12} \times 11.2} = 292000

⇒ 32x - 14x = 292000

⇒ 18x = 292000 

⇒ x = 16222.22 ≈ 16200

Hence the sum (in ₹, to the nearest hundreds) is 16,200.