Question : If the period increases by 5 years, then simple interest increases by Rs. 3600 on a sum of Rs. 6000. What is the annual rate of interest?
Option 1: 15 percent
Option 2: 12 percent
Option 3: 12.5 percent
Option 4: 10 percent
Answer (1)
22nd Jan, 2024
Correct Answer: 12 percent
Solution :
Let the rate be $R$.
We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$
$⇒ 3600 = \frac{6000 × R × 5}{100}$
$⇒ 3600 = 300 × R$
$\therefore R= 12\%$
Hence, the correct answer is 12 percent.
Comments (0)
Related Questions
Know More about
Staff Selection Commission Multi Tasking ...
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Get Updates Brochure
Thank You!
Your Staff Selection Commission Multi Tasking Staff Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Preliminary Exam
Result Date:
21 Nov, 2024
- 28 Nov, 2024
Admit Card Date:
21 Nov, 2024
- 6 Dec, 2024
Mains Exam
Exam Date:
14 Dec, 2024
- 14 Dec, 2024
Exam Date:
19 Dec, 2024
- 29 Dec, 2024
Tier II
Exam Date:
18 Jan, 2025
- 20 Jan, 2025
