SSC CGL 2022 PYQ — Question 57

The correct answer is option 2 i.e. ₹1,376

Given:

P₁ = ₹640

Amount = ₹832 

T₁ = 2 years

P₂ = ₹860

T₂ = 4 years

Concept Used:

$Simple\ Interest ={ P \times R \times T \over 100}$

Interest = Amount - Principle

Explanation:

S.I.₁ = 832 - 640 = 192

Now using the formula for simple interest, 192 = $640 \times R \times 2 \over 100$

⇒ R = 15%

So, S.I.₂ = $P_2 \times R \times T_2 \over 100$

⇒ S.I.₂ = $860 \times 15 \times 4 \over 100$

⇒ S.I.₂ = 516

Now, Amount = 860 + 516 = 1376

Hence the sum will become ₹1,376.