SSC CGL 2024 PYQ — Question 57

The correct answer is option 1 i.e. 8 years.

Principal amount (P) = ₹8,000

Rate of interest per annum (R) = 8%

Time (T) = $2{1\over2}$ years = 2.5 years

Simple Interest = (P × R × T)/100 = (8000 × 8 × 2.5)/100 = 1600

New Principal amount (P₁) = ₹5,000

Rate of interest per annum (R₁) = 4%

Simple Interest (SI) = ₹1,600

Let the time required = T₁ years

So, SI = (P₁ × R₁ * T₁)/100

⇒ 1600 = (5000 × 4 × T)/100

⇒ 200T = 1600

⇒ T = 1600/200 = 8

Therefore, the time required is 8 years.