Question : A certain sum of money amounts to Rs. 918 in 2 years and Rs. 969 in 3.5 years at simple interest. What is the rate of interest (in percent per year)?
Option 1: 4
Option 2: 5
Option 3: 6
Option 4: 8
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 4
Solution : Interest for 1.5 years = 969 - 918 = Rs. 51 i.e. 1 year interest = $\frac{51}{1.5}$ 1 year interest = Rs. 34 Now Rs. 918 contains interest of Rs. 34 for two years (i.e. two times) The principal amount is Rs. 918 – (Rs. 34 × 2) = Rs. 850 We know, Rate of Interest = $\frac{\text{Simple interest} \times 100}{\text{Principal×Time}} = \frac{68 \times 100}{850 \times 2} = 4$% per annum Hence, the correct answer is 4.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : A sum of money at simple interest amounts to Rs. 6,000 in 4 years and to Rs. 6,750 in 7 years at the same rate percent per annum of interest. The sum (in Rs.) is:
Question : A sum of Rs. 400 becomes Rs. 448 at simple interest in 2 years. In how many years will the sum of Rs. 550 amounts to Rs. 682 at the same rate?
Question : The simple interest on a sum of money is $\frac{8}{25}$ of the sum. If the number of years is numerically half of the rate percent per annum, then the rate percent per annum is:
Question : In how much time will the simple interest on a certain sum of money be $\frac{6}{5}$th times of the sum at 20% per annum?
Question : A person lent a certain sum of money at the annual rate of 25 percent on simple interest. In 6 years the interest amounted to Rs. 360 more than the sum lent. What is the sum lent?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile