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SSC Selection Post 2024 PYQ — Question 73

SSC Selection Post - Matriculation Level - 20 June 2024 - Shift 4 • Quantitative Aptitude • Q73

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Sanjana borrows ₹16,000 at 24% per annum simple interest, and Savithri borrows ₹18,200 at 20% per annum simple interest. In how many years will their amounts of debt be equal?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 11.

Amount = Principal + Simple interest

A = P + PRT100PRT\over100

Sanjana:

A1 = 16000 + 16000×24×t10016000\times24\times t\over100

A1 = 16000 + 3840t

Savithri:

A2 = 18200 + 18200×20×t10018200\times20\times t\over100

A2 = 18200 + 3640t

Both amounts are equal

⇒ 16000 + 3840t = 18200 + 3640t

⇒ 200t = 2200

⇒ t = 11