For a certain sum, the amount received after 2 years at 18% p.a. simple interest is Rs.1,100 less than the simple interest on the same sum for 10 years at the same rate. The sum (in Rs.) is:

This question was previously asked in
Delhi Police Head Constable (AWO/TPO) Official Paper (Held On : 27 Oct 2022 Shift 1)
View all SSC Head Constable AWO TPO Papers >
  1. Rs. 2,400
  2. Rs. 2,300
  3. Rs. 2,500
  4. Rs. 2,200

Answer (Detailed Solution Below)

Option 3 : Rs. 2,500
Free
CT 01: Ancient History - Stone Age & Indus Valley Civilization
6.1 K Users
10 Questions 10 Marks 7 Mins

Detailed Solution

Download Solution PDF

Given:

Time for amount = 2 years

Rate = 18% per annum

Amount after 2 years is Rs.1100 less than the simple interest for 10 years

Formula used:

Simple Interest (SI) = \( \frac{P \times R \times T}{100} \)

Calculation:

SI for 2 years = \( \frac{P \times 18 \times 2}{100} \) = \( \frac{36P}{100} \)

SI for 10 years = \( \frac{P \times 18 \times 10}{100} \) = \( \frac{180P}{100} \)

According to the question:

Amount after 2 years = Principal + SI for 2 years

\( P + \frac{36P}{100} \) = SI for 10 years - 1100

\( P + \frac{36P}{100} = \frac{180P}{100} - 1100 \)

\( \frac{136P}{100} = \frac{180P}{100} - 1100 \)

\( 136P = 180P - 110000 \)

\( 180P - 136P = 110000 \)

\( 44P = 110000 \)

\( P = 2500 \)

∴ The required sum is Rs.2500.

Latest SSC Head Constable AWO TPO Updates

Last updated on Dec 9, 2024

-> SSC Head Constable (AWO/TPO) 2025 Notification will be announced soon.

-> SSC Head Constable (AWO/TPO) Marks were out for the previous cycle. Candidates could check their marks from the official website till 15th February 2024. 

-> The total number of vacancies for the SSC Head Constable 2025 Notification will be declared soon. The candidates earlier appeared for the exam for a total number of 857 vacancies for SSC Head Constable Recruitment for the 2022 cycle. 

->The candidates who will be qualified in the CBE gets eligible for the Physical test. Candidates can improve their preparations and score high by referring to SSC Head Constable AWO TPO Previous Years Papers and SSC Head Constable (AWO/TPO) Mock Test.

More Simple Interest Questions

More Interest Questions

Get Free Access Now
Hot Links: teen patti all app teen patti online teen patti cash all teen patti master teen patti casino download