Exams › SSC CGL (Prelims) › General
A donor deposits ₹8,00,000 in a trust that earns 10% simple interest annually. The interest is used to distribute three annual awards. If the second and third awards are ₹35,000 and ₹20,000 respectively, what is the value of the first award?
- 25,000
- 30,000
- 35,000
- 45,000
Correct answer: 25,000
Solution
The annual simple interest is 10% of ₹8,00,000 = ₹80,000. If the second and third awards are ₹35,000 and ₹20,000, the first award is ₹80,000 - ₹35,000 - ₹20,000 = ₹25,000.
Related SSC CGL (Prelims) General questions
- X lent ₹6,000 to Y for 3 years and ₹4,000 to Z for 2 years, both at the same simple interest rate. In total, he received ₹2,000 as interest from both. What is the rate of interest per annum (nearest integer)?
- A person invests ₹24,000 in two schemes — Scheme A at 18% and Scheme B at 12%, both at simple interest. After 1 year, the total interest is ₹3,840. How much was invested in Scheme A?
- A certain amount grows to ₹8,000 in 2 years and to ₹8,800 in 3 years. Determine the simple interest rate per annum.
- Karan borrowed money at simple interest: 6% for the first 4 years, 8% for the next 3 years, and 10% beyond 7 years. If the total interest after 9 years is ₹4,760, how much did he borrow?
- A sum becomes 2.5 times in 10 years under simple interest. Find the rate.
- Kavya invested amounts in three schemes P, Q, and R at simple interest rates of 11% p.a., 13% p.a., and 16% p.a. respectively. If the total interest in one year was ₹2,850 and the amount in Scheme R was 200% of Scheme P and 300% of Scheme Q, what was the amount invested in Scheme Q?
⚔️ Practice SSC CGL (Prelims) General free + battle 1v1 →