SSC CGL 2023 PYQ — Question 74

The correct answer is option 2 i.e.  $3 \frac{1}{2}$ years.

principal (P) = 3720

final amount (A) = 5282.4

rate (r) = 12%

Amount = P + SI

⇒ SI = A - P = 5282.4 - 3720 = 1562.4

SI = (P × r × t)/100

⇒ 1562.4 = (3720 × 12 × t)/100

⇒ (1562.4 × 100)/(3720 × 12) = t

⇒ t = $3 \frac{1}{2}$ years