Question
Download Solution PDFAmit invests a sum of ₹5400 and Gopal invests a sum of ₹9400 at the same rate of simple interest per annum. If, at the end of 4 years, Gopal gets ₹480 more interest than Amit, then find the rate of interest per annum (in percentage).
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal invested by Amit (PA) = ₹5400
Principal invested by Gopal (PG) = ₹9400
Time (t) = 4 years
Difference in interest (IG - IA) = ₹480
Formula used:
Simple Interest (SI) = \(P \times \dfrac{r \times t}{100}\)
Calculation:
Interest for Amit: IA = ₹5400 × \(\dfrac{r \times 4}{100}\)
Interest for Gopal: IG = ₹9400 × \(\dfrac{r \times 4}{100}\)
Given, IG - IA = 480
⇒ ₹9400 × \(\dfrac{r \times 4}{100}\) - ₹5400 × \(\dfrac{r \times 4}{100}\) = 480
⇒ ₹(9400 - 5400) × \(\dfrac{r \times 4}{100}\) = 480
⇒ ₹4000 × \(\dfrac{r \times 4}{100}\) = 480
⇒ \(\dfrac{16000r}{100}\) = 480
⇒ 160r = 480
⇒ r = \(\dfrac{480}{160}\)
⇒ r = 3%
∴ The correct answer is option (2).
Last updated on Jun 26, 2025
-> The Staff Selection Commission has released the SSC GD 2025 Answer Key on 26th June 2025 on the official website.
-> The SSC GD Notification 2026 will be released in October 2025 and the exam will be scheduled in the month of January and February 2026.
-> The SSC GD Merit List is expected to be released soon by the end of April 2025.
-> Previously SSC GD Vacancy was increased for Constable(GD) in CAPFs, SSF, Rifleman (GD) in Assam Rifles and Sepoy in NCB Examination, 2025.
-> Now the total number of vacancy is 53,690. Previously, SSC GD 2025 Notification was released for 39481 Vacancies.
-> The SSC GD Constable written exam was held on 4th, 5th, 6th, 7th, 10th, 11th, 12th, 13th, 17th, 18th, 19th, 20th, 21st and 25th February 2025.
-> The selection process includes CBT, PET/PST, Medical Examination, and Document Verification.
-> The candidates who will be appearing for the 2026 cycle in the exam must attempt the SSC GD Constable Previous Year Papers. Also, attempt SSC GD Constable Mock Tests.