SSC CGL Exam > SSC CGL Questions > A sum of Rs. 24,000 amounts to Rs. 32,000 in ...
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A sum of Rs. 24,000 amounts to Rs. 32,000 in 4 years at a certain rate of simple interest per annum. To what does a sum of Rs. 6,000 amount at the same rate in 9 years?
- a)Rs. 10,000
- b)Rs. 10,150
- c)Rs. 10,400
- d)Rs. 10,500
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
A sum of Rs. 24,000 amounts to Rs. 32,000 in 4 years at a certain rate...
Given Data
- Principal amount (P) = Rs. 24,000
- Amount after 4 years (A) = Rs. 32,000
- Time period (t) = 4 years
Calculating Rate of Interest (R)
Using the formula for simple interest:
\[A = P + (P \cdot R \cdot t)\]
Substitute the given values:
\[32,000 = 24,000 + (24,000 \cdot R \cdot 4)\]
\[8,000 = 96,000R\]
\[R = \frac{8,000}{96,000} = \frac{1}{12}\]
So, the rate of interest is \( \frac{1}{12} \) or 8.33%
Calculating Amount for Rs. 6,000 in 9 years
- Principal amount (P) = Rs. 6,000
- Time period (t) = 9 years
- Rate of interest (R) = \( \frac{1}{12} \) or 8.33%
Using the formula for simple interest:
\[A = P + (P \cdot R \cdot t)\]
Substitute the given values:
\[A = 6,000 + (6,000 \cdot \frac{1}{12} \cdot 9)\]
\[A = 6,000 + 450 = Rs. 10,500\]
Therefore, a sum of Rs. 6,000 amounts to Rs. 10,500 at the same rate of interest in 9 years. The correct answer is option 'D'.
- Principal amount (P) = Rs. 24,000
- Amount after 4 years (A) = Rs. 32,000
- Time period (t) = 4 years
Calculating Rate of Interest (R)
Using the formula for simple interest:
\[A = P + (P \cdot R \cdot t)\]
Substitute the given values:
\[32,000 = 24,000 + (24,000 \cdot R \cdot 4)\]
\[8,000 = 96,000R\]
\[R = \frac{8,000}{96,000} = \frac{1}{12}\]
So, the rate of interest is \( \frac{1}{12} \) or 8.33%
Calculating Amount for Rs. 6,000 in 9 years
- Principal amount (P) = Rs. 6,000
- Time period (t) = 9 years
- Rate of interest (R) = \( \frac{1}{12} \) or 8.33%
Using the formula for simple interest:
\[A = P + (P \cdot R \cdot t)\]
Substitute the given values:
\[A = 6,000 + (6,000 \cdot \frac{1}{12} \cdot 9)\]
\[A = 6,000 + 450 = Rs. 10,500\]
Therefore, a sum of Rs. 6,000 amounts to Rs. 10,500 at the same rate of interest in 9 years. The correct answer is option 'D'.
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Community Answer
A sum of Rs. 24,000 amounts to Rs. 32,000 in 4 years at a certain rate...
Interest in first case = 32,000 – 24,000 = 8,000
Hence, Option D is correct.
Hence, Option D is correct.
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A sum of Rs. 24,000 amounts to Rs. 32,000 in 4 years at a certain rate of simple interest per annum. To what does a sum of Rs. 6,000 amount at the same rate in 9 years?a)Rs. 10,000b)Rs. 10,150c)Rs. 10,400d)Rs. 10,500Correct answer is option 'D'. Can you explain this answer?
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