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WBCS Main Examination 2023 — Paper VI: Arithmetic and Test of Reasoning · Question 5 of 200

Q5
ArithmeticSimple & Compound Interest
What sum of money lent at 4% p.a. for 3 years will earn same interest as ₹ 1,200 earns in 4 years at 5% p.a. of simple interest?
  1. a.₹ 1,000
  2. b.₹ 1,500
  3. c.₹ 2,000
  4. d.₹ 2,500

Answer: (C) ₹ 2,000

Interest on ₹ 1,200 at 5% for 4 years = 1200 × 5 × 4 / 100 = ₹ 240. The required sum P must satisfy P × 4 × 3 / 100 = 240, so P = ₹ 2,000. ₹ 1,000 or ₹ 1,500 would earn only ₹ 120 or ₹ 180, and ₹ 2,500 would earn ₹ 300.

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