Question : A certain sum of money lent at simple interest amounts to INR 1,200 in 2 years and INR 1,600 in 4 years. The rate percentage per annum is:
Option 1: 20%
Option 2: 30%
Option 3: 25%
Option 4: 16%
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: 25%
Solution : Interest for 2 years = Amount after 4 years - Amount after 2 years = 1600 - 1200 = INR 400 ⇒ Interest for 1 year = INR 200 Principal = Amount after 2 years - Interest for 2 years = 1200 - 400 = INR 800 Rate of interest = $\frac{200}{800}×100$% = 25% Hence, the correct answer is 25%.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : A certain sum amounts to INR 3,640 in 2 years and INR 4,060 in 8 years at simple interest. Find the approximate rate percentage per annum.
Question : A sum of money invested at a certain rate of simple interest per annum amounts to INR 14,522 in seven years and to INR 18,906 in eleven years. Find the sum invested (in INR).
Question : A sum of money amounts to INR 767 in 3 years, and to INR 806 in 4 years on simple interest at 6% per annum. What is the sum?
Question : A sum of money at simple interest amounts to INR 1,200 in 3 years and INR 1,350 in 4 years. The sum is:
Question : A sum of INR 10,500 amounts to INR 13,650 in 2 years at a certain rate percent per annum simple interest. The same sum will amount to what in 1 year at the same rate if the interest is compounded half yearly (nearest to INR 1 )?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile