SSC CGL Exam  >  SSC CGL Questions  >  A sum becomes 184% of itself in four years wh... Start Learning for Free
A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?
  • a)
    2800
  • b)
    4200
  • c)
    3000
  • d)
    6000
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
A sum becomes 184% of itself in four years when the rate of compound i...
Given Data:
- Sum becomes 184% of itself in 4 years
- Rate of interest in the fourth year was 14.28% p.a
- Interest in the second, third, and fourth years was the same
- Interest in the first year was Rs. 450

Solution:

Step 1: Calculate Rate of Interest
Let the principal amount be P.
Let the rate of interest in the first, second, and third years be x%.
In the fourth year, the rate of interest is 14.28%.
Total interest after 4 years = 184% of P
The interest in the first year = Rs. 450
Therefore, x% of P = Rs. 450

Step 2: Calculate Total Amount after 4 years
Interest in the second, third, and fourth years = Rs. 450 each
Total interest in 3 years = 3 * 450 = Rs. 1350
Principal + Total interest after 4 years = 184% of P
P + 1350 = 1.84P

Step 3: Solve for Principal Amount
From Step 1: x% of P = Rs. 450
xP/100 = 450
P = 450 * 100 / x
Substitute the value of P in Step 2 equation:
450 * 100 / x + 1350 = 1.84 * (450 * 100 / x)
Solve for x to find the rate of interest in the first year.

Step 4: Calculate the Sum Value
Once you have the rate of interest in the first year, you can calculate the principal amount using the formula P = 450 * 100 / x.
Then, the sum value will be the principal amount plus the interest earned in 4 years.
Therefore, the value of the sum is Rs. 3000.
So, the correct answer is option C) 3000.
Free Test
Community Answer
A sum becomes 184% of itself in four years when the rate of compound i...
Let principal = P, Amount at the end of first, second, third and fourth year be P, A1, A2, A3 and A4
P : A4 = 100 : 184
As the rate of interest in the fourth year = 14.28%
A3 : A4 = 7 : 8

Interest in fourth year = 184 – 161 = 23
A2 = 161 – 23 = 138
A1 = 138 – 23 = 115

Hence, option C is correct.
Explore Courses for SSC CGL exam

Similar SSC CGL Doubts

Top Courses for SSC CGL

A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer?
Question Description
A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer?.
Solutions for A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for SSC CGL. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free.
Here you can find the meaning of A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A sum becomes 184% of itself in four years when the rate of compound interest was different for different years. The rate of interest in the fourth year was 14.28% p.a. and the amount of interest in the second, third and fourth years was the same. If the interest of the first year was Rs. 450, what was the value (in Rs.) of the sum?a)2800b)4200c)3000d)6000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice SSC CGL tests.
Explore Courses for SSC CGL exam

Top Courses for SSC CGL

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev