SSC CHSL 2023 · PYQ · Simple Interest · medium
How long (in years) will a sum of money invested at 6% per annum simple interest to increase its value by 40%?
Answer
The correct answer is C: 6 2/3. For a 40% increase, SI = 40% of principal. Using SI = P×R×T/100: 40 = 6×T, T = 40/6 = 6 2/3 years.
- A.6 1/3
- B.5 2/3
- C.6 2/3✓ Correct
- D.4 2/3
For a 40% increase, SI = 40% of principal. Using SI = P×R×T/100: 40 = 6×T, T = 40/6 = 6 2/3 years.
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