Exams › SSC CGL (Prelims) › General
If the simple interest on a sum of Rs. P at 8% per annum for 3 years is equal to the simple interest on Rs. Q at 6% per annum for 4 years, then what is the ratio of P to Q?
- 1:2
- 3:4
- 4:3
- 1:1
Correct answer: 1:1
Solution
Simple interest is proportional to principal × rate × time. So $P\times 8\times 3 = Q\times 6\times 4$, which simplifies to $24P=24Q$. Hence, $P:Q=1:1$.
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