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SSC CGL 2024 PYQ — Question 55

SSC CGL - 09 Sep 2024 - Shift 1 • Quantitative Aptitude • Q55

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Mohan borrows a sum of ₹4,22,092 at the rate of 20% per annum simple interest. At the end of the first year, he repays ₹21,679 towards return of principal amount borrowed. If Mohan clears all pending dues at the end of the second year, including interest payment that accrued during the first year, how much does he pay (in ₹) at the end of the second year?

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Correct answer: D

Explanation

The correct answer is Option 4 i.e. 564914.

P = ₹4,22,092

S.I. = (P × R × T)/100

Principle due for second year = 422092 - 21679 = 400413

SI for first year = 422092×20×1100{{422092 \times 20 \times 1} \over 100} = 84418.4

SI for second year = 400413×20×1100{{400413 \times 20 \times 1} \over 100} = 80082.6

The amount to be paid after 2 years = 400413 + 84418.4 + 80082.6 = 564914