Question : If the simple interest at the same rate of interest on INR 500 for 4 years and INR 700 for 2 years combined, is INR 280, then what is the rate of interest?
Option 1: $9 \frac{3}{17}\%$
Option 2: $6 \frac{5}{17}\%$
Option 3: $8 \frac{4}{17}\%$
Option 4: $7 \frac{3}{17}\%$
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: $8 \frac{4}{17}\%$
Solution : P = INR 500 and INR 700 T = 4 years and 2 years R = same for both According to the question, $280 = \frac{\text{500×R×4}}{100}$+$\frac{\text{700×R×2}}{100}$ ⇒ $280 = \frac{\text{2000R}}{100}$+$\frac{\text{1400R}}{100}$ ⇒ $ 280 = \frac{\text{3400R}}{100}$ ⇒ $R = \frac{280}{34} = 8\frac{4}{17}$ Hence, the correct answer is $8 \frac{4}{17}\%$.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : The rate of simple interest for which INR 9,000 will amount to INR 10,200 in 4 years is:
Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Question : The compound interest (compounding annually) on a certain sum at the rate of 8% per annum for two years is INR 6,656. What would be the simple interest on the same sum at the same rate of interest for two years?
Question : A person deposited INR 500 for 3 years, INR 650 for 5 years, and INR 1,250 for 7 years. He received a total simple interest of INR 1,620. The rate of interest per annum is:
Question : A sum triple itself in 9 years at simple interest. Find the rate of interest per annum.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile