Exams › SSC CGL (Prelims) › General

A charitable trust of ₹8,00,000 earns simple interest at 8% per annum. This interest is used to fund three grants. If the first and second grants are ₹25,000 and ₹20,000 respectively, what is the value of the third grant?

1. ₹ 19,000
2. ₹ 22,000
3. ₹ 15,000
4. ₹ 24,000

Correct answer: ₹ 19,000

Solution

Simple interest on ₹8,00,000 at 8% per annum is ₹64,000. The first two grants total ₹45,000, so the remaining amount for the third grant is ₹19,000.

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