Question : In 5 years, the simple interest on an amount of Rs. $\mathrm{X}$ is $\frac{2}{5}$th of the principal. The rate of interest per annum is:
Option 1: 12%
Option 2: 8%
Option 3: 10%
Option 4: 5%
Answer (1)
13th Jan, 2024
Correct Answer: 8%
Solution :
Here, Principal = $X$
Time = 5 years
Simple interest = $\frac{2X}{5}$
We know,
Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$
⇒ $\frac{2X}{5}=\frac{X× \text{Rate}×5}{100}$
⇒ Rate = 8%
Hence, the correct answer is 8%.
Comments (0)
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Get Updates Brochure
Thank You!
Your Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Application Date:
23 Oct, 2024
- 25 Dec, 2024
Application Date:
9 Dec, 2024
- 30 Dec, 2024
Application Date:
2 Dec, 2024
- 31 Dec, 2024
Exam Date:
3 Jan, 2025
- 16 Jan, 2025
General Insurance Corporation Of India Assistant Manager Exam
- (GIC ASSISTANT MANAGER SCALE I EXAM)
Exam Date:
5 Jan, 2025
- 5 Jan, 2025
