SSC CHSL 12 Oct 2020 Shift 1 Paper

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Question : 75 of 100

Marks: +1, -0

In how many years shall

₹ 3500

invested at the rate of

10 \%

simple interest per annum, amount to

₹ 4500

?

$2 {4}/{7} {\yr}$
$2 {3}/{7} {\yr}$
$2 {6}/{7} {\yr}$
$2 {5}/{7} {\yr}$

Solution:

Principle

(\P)=₹ 3500

Amount

(\A)=₹ 4500

Simple Interest

({\SI})=\A-\P

=₹(4500-3500)

=₹ 1000

Rate

(r)=10 \%

p.a.
Let time be

\T {\yr}

,
We know that,

\SI={\P \×\R \×\T}/{100}

⇒

1000={3500 \×10 \× \T}/{100}

⇒

\T={1000}/{350}=2 {6}/{7} {\yr}

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