SarkariPYQ

SSC MTS 2022 PYQ — Question 56

SSC MTS - 25 July 2022 - Shift 1 • Quantitative Aptitude • Q56

Back to paper

Ridhaan took a loan of ₹12,000 at the rate of 8% simple interest per annum. What amount will he have to pay after 6 months, if he decides to repay the entire loan amount with interest at that time?

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. 12,480

According to the question-

Principal Amount P = 12,000

Rate of interest R = 8%

Time = 6 months = (1/2) year

So,

Simple Interest (SI) = (PRT100)\left ( \frac{PRT}{100} \right )

Simple Interest (SI) = (12000×8×1100×2)\left ( \frac{12000\times 8\times 1}{100\times 2} \right )

Simple Interest (SI) = 480

Therefore,

Amount to be repaid = 12,000 + 480 = 12,480