Exams › SSC CGL (Prelims) › Maths
If ₹1,875 becomes ₹2,625 in 4 years, what will ₹24,000 become at the end of 9 years at the same rate of interest, under simple interest?
- ₹45,600
- ₹21,600
- ₹34,800
- ₹43,200
Correct answer: ₹45,600
Solution
The increase from ₹1,875 to ₹2,625 is ₹750 in 4 years, so yearly interest is ₹187.5. On ₹1,875, the rate is 10% per annum, since ₹187.5 is 10% of ₹1,875. For ₹24,000 at 10% for 9 years, SI = ₹21,600, so amount = ₹45,600.
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