Exams › SSC CGL (Prelims) › General

If the simple interest on a certain sum of money for 4 years at 5% per annum is ₹800, what would be the simple interest on the same sum for 6 years at 10% per annum?

1. ₹ 2,000
2. ₹ 2,200
3. ₹ 2,400
4. ₹ 2,600

Correct answer: ₹ 2,400

Solution

From \(SI=\frac{PRT}{100}\), we get \(800=\frac{P\cdot 5\cdot 4}{100}\), so \(P=4000\). For 6 years at 10%, \(SI=\frac{4000\cdot 10\cdot 6}{100}=2400\).

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