SSC CHSL 2023 PYQ — Question 27

The correct answer is option 2. i.e. 11$\frac{1}{9}$ % p.a

Given that

 After 3 years, he returned $\frac{4}{3}$ of the money to the lender

Let the person borrow some money be P

Amount = $\frac{4}{3}$P

Formula used

Simple interest = PRT/100

Amount = P + S.I.

where, P = principal, R = rate of interest, and T = time

Calculation

⇒ S.I. =  $\frac{4}{3}$P - P = P/3 

Now, P/3 = P × R × 3/100

⇒ R = 100/9 = 11$\frac{1}{9}$ % p.a