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SSC GD 2021 PYQ — Question 56

SSC GD Constable (English) - 26th November 2021 Shift 2 • Quantitative Aptitude • Q56

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A certain sum of money amounts to Rs. 12144 at simple interest in 4 years and to Rs.13984 in 612\frac{1}{2} years. The rate of interest is:

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 8%

Given:

A certain sum of money amounts to Rs. 12144 at simple interest in 4 years and to Rs.13984 in 612\frac{1}{2} years

Formula used:

Simple interest = PRT/100 where          ----- (1)

P = Principle, R = rate and T = time

Calculations:

Simple interest for 2.5 years = 13984 - 12144 = 1840

Interest for 1 year = 1840/2.5 = 736

Principle = 12144 - (736 × 4) = 9200

Using equation (1), we get

⇒ 736 = (9200 × 1 × R)/100

⇒ R = 736/92 = 8%