Question : A certain amount is lent at $x$% p.a. simple interest for 3 years. Instead, if the amount was lent at $3x$% p.a. simple interest for $y$ more years, the simple interest would have been seven times the earlier interest. What is the value of $y?$
Option 1: 3
Option 2: 4
Option 3: 5
Option 4: 6

Question

Question : A certain amount is lent at $x$% p.a. simple interest for 3 years. Instead, if the amount was lent at $3x$% p.a. simple interest for $y$ more years, the simple interest would have been seven times the earlier interest. What is the value of $y?$

Option 1: 3

Option 2: 4

Option 3: 5

Option 4: 6

Team Careers360 · Accepted Answer

Correct Answer: 4

Solution : Given: A certain amount is lent at $x$% p.a. simple interest for 3 years.
Simple interest $=\frac{ ext{Principal × Rate × Time}}{100}$
Simple interest for 3 years $=\frac{100 imes x imes 3}{100} = 3x$
Then, simple interest for $y$ more years is given as,
$\frac{100 imes3x imes (3+y)}{100} = 7×3x$
⇒ $9x + 3xy = 21x$
⇒ $3xy = 12x$
⇒ $y = 4$
Hence, the correct answer is $4$.

Exams

Colleges

Predictors

Resources

Quick links

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Question : A certain amount is lent at x% p.a. simple interest for 3 years. Instead, if the amount was lent at 3x% p.a. simple interest for y more years, the simple interest would have been seven times the earlier interest. What is the value of y?Option 1: 3Option 2: 4Option 3: 5Option 4: 6

Related Questions

Know More about

Upcoming Exams

Trending Articles around SSC CGL

Download the Careers360 App on your Android phone

Sign In/Sign Up