1 View

Question : The simple interest on a sum for five years is two-fifths of the sum. The rate of interest per annum is:

Option 1: 1%

Option 2: 8%

Option 3: 6%

Option 4: 4%


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: 8%


Solution :
Time = 5 years
Let the principal be $x$
Rate = $r$
So, simple interest = $\frac{2x}{5}$
Simple interest =$\frac{\text{Principal×Rate×Time}}{100}$
⇒ $\frac{2x}{5}$ =$\frac{x×r×5}{100}$
⇒ $r = \frac{2x×100}{5×5x}$
⇒ $r = \frac{200x}{25x}$
$\therefore r = 8\%$ per annum
Hence, the correct answer is 8%.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
GRE ® Registrations 2024
Apply
Apply for GRE® Test now & save 10% with ApplyShop Gift Card | World's most used Admission Test for Graduate & Professional Schools
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books