SSC CHSL 24 Mar 2018 Shift 2 Paper

Section: English Language

Question : 11 of 100

Marks: +1, -0

A sum of Rs 1200 amounts to Rs 1740 in 3 years at simple interest. If rate of interest is increased by 3%, then what will be the new amount (in Rs)?

Solution:

Principal sum = Rs. 1200 and amount after 3 years = Rs. 1740
Let rate of interest =

4r%

Amount under simple interest =

P + ( {P×R×T}/100 )

⇒

1200 + ({1200×r×3}/ 100 ) =1740

⇒

36r = 1740 − 1200 = 540

⇒

r = 540/36 =15%

Thus, new rate of interest =

15 + 3 = 18%

∴ New amount =

1200 + ({1200×18×3}/ 100 )

1200 + 648 = Rs. 1848

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