SSC CGL 2024 PYQ — Question 75

The correct answer is option 1 i.e. 20% p.a..

Given that, amount = $9\over 5$ of principal

Let the money borrowed by the person (principal) be Rs.x.

⇒ Amount = $9\over 5$x

SI = Amount - Principal

Also, SI = ${P \times R \times T}\over 100$

According to the given question,

SI = $9\over 5$x - x

⇒ $4\over 5$x

Also, SI = ${x \times R \times 4}\over 100$

⇒ $4\over 5$x =   $4x\over 100$ × R

⇒ R = 20%

Hence the rate of interest is 20% p.a..