SSC CHSL 12 Oct 2020 Shift 2 Paper

Question : 66 of 100

Marks: +1, -0

In how many years will the simple interest on a sum of money be equal to the principal at rate of

12 {2}/{4}

% p.a. ?

Solution:

Let the principal be ₹ P.
Rate of interest

(r)=12 {2}/{4} \%

={50}/{4} \%

p.a.
Let the required time be

\T {\yr}

.
We know that
Simple interest

({\SI})={\P \×\R \×\T}/{100}

\P=\P \×{50}/{4 \×100} \T

\T={400}/{50}=8 \yr

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