Exams › SSC CGL (Prelims) › General

In how many years will a sum of Rs. 4,000 give a simple interest of Rs. 1,200 at 10% per annum?

1. 2 years
2. 2 years 6 months
3. 3 years
4. 3 years 3 months

Correct answer: 3 years

Solution

Using the simple interest formula, \(SI = \frac{PRT}{100}\). Substituting the values gives \(1200 = \frac{4000 \times 10 \times T}{100}\), so \(T = 3\) years.

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