Question : Simple interest received by a person in 15 years on a principal of Rs. 6000 is 150 percent of the principal. What is the annual rate of interest?
Option 1: 20 percent
Option 2: 30 percent
Option 3: 10 percent
Option 4: 25 percent
New: SSC MTS Tier 1 Answer key 2024 out
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 10 percent
Solution : Given, Principal = Rs. 6000 Time = 15 years Let the rate be $R$. Simple interest = 150% of Principal $=\frac{150}{100}\times6000=9000$ We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ $9000 = \frac{6000\times R\times15}{100}$ ⇒ $R=\frac{9000\times100}{6000\times15}$ $\therefore R=10\%$ Hence, the correct answer is 10 percent.
Answer Key | Cutoff | Selection Process | Preparation Tips | Eligibility | Application | Exam Pattern
Question : Simple interest received by a person in 10 years on a principal of Rs. 8,500 is 180% of the principal. What is the annual rate of interest?
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?
Question : Simple interest received by a person in 12 years on a principal of INR 12000 is 120% of the principal. What is the annual rate of interest?
Question : A, Rs 6,000 is invested at simple interest for 5 years and the annual rate of interest is 15 percent. B, Rs. 5,000 is invested at simple interest for 2 years and the annual rate of interest is 20 percent. What is the ratio of interests earned in A and B respectively?
Question : A sum of Rs. 6000 is divided into two parts. The annual simple interest on the first part at the annual rate of 10% is equal to the annual simple interest on the second part at the annual rate of 15%. How much is the interest on each part for one year?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile