Question : Directions: In 5 years, Rs. 5000 amounts to Rs.9000. In what time at the same rate will Rs.600 amount to Rs.900?
Option 1: 5 years
Option 2: 3 years
Option 3: 6 years
Option 4: 2 years
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 3 years
Solution : Given: In 5 years, Rs.5000 amounts to Rs.9000.
We have, Principal = 5000 Time = 5 yrs Amount = 9000 Rate = ? We know that, Amount (A) = P + {(P × R × T)/100} ⇒ 9000 = 5000 + {(5000 × R × 5)/100} ⇒ 9000 – 5000 = (25000 × R)/100 ⇒ 4000 = 250 × R ⇒ R = 4000/250 ⇒ R = 16% Now, new principal = 600 New amount = 900 Rate = 16% A = P + {(P × R × T)/100} ⇒ 900 = 600 + {( 600 × 16 × T)/100} ⇒ 900 – 600 = (9600 × T)/100 ⇒ 300 = 96 × T ⇒ T = 300/96 ⇒ T = 3.125 ≈ 3 years
So, 600 will become 900 in 3 years. Hence, the second option is correct.
Candidates can download this e-book to give a boost to thier preparation.
Answer Key | Eligibility | Application | Admit Card | Preparation Tips | Result | Cutoff
Question : A sum amounts to Rs. 6580 in 2 years and amounts to Rs. 7896 in 3 years on compound interest (compounding annually) at the same rate of interest. What is the annual rate of interest?
Option 1: 30%
Option 2: 40%
Option 3: 15%
Option 4: 20%
Question : In how many years will Rs. 40000 amounts to Rs. 46656 at the rate of 8% compound interest per annum.
Option 1: 5
Option 2: 2
Option 3: 4
Option 4: 3
Question : There is a 40% increase in an amount in 8 years at Simple Interest. What will be the Compound Interest (in Rs.) of Rs. 30000 after 2 years at the same rate?
Option 1: 6150
Option 2: 7687.50
Option 3: 4612.50
Option 4: 3075
Question : The amount of Rs. 25,000 in 2 years at annual compound interest, if the rates for the successive years are 4% and 5% per annum respectively is:
Option 1: Rs. 30,000
Option 2: Rs. 26,800
Option 3: Rs. 27,300
Option 4: Rs. 28,500
Question : There is a 40% increase in the amount in 10 years at simple interest. What will be the compound interest on Rs. 30,000 after 3 years at the same rate?
Option 1: Rs. 3,745.92
Option 2: Rs. 7,491.84
Option 3: Rs. 9,364.80
Option 4: Rs. 5,618.88
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile