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SSC MTS 2022 PYQ — Question 75

SSC MTS - 19 July 2022 - Shift 3 • Quantitative Aptitude • Q75

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Ramya lent a certain sum of money at 4% simple interest to Seema and in 8 years the interest amounted to ₹3,400 less than the sum lent. Find the sum lent by Ramya to Seema.

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Correct answer: D

Explanation

The correct answer is option 4 i.e 5000

Concept Used :

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

Given :

Rate = 4%

Time = 8 years

Interest = Principle - 3,400

Now, let the sum lent by Ramya be P

So, (P - 3,400) = (P × 4 × 8)/100

⇒ (P - 3,400) = 8P/25

⇒ 25P - 85,000 = 8P

⇒ 25P - 8P = 85,000

⇒ 17P = 85,000

⇒ P = 5000

Hence the required sum is ₹5,000.