SSC Selection Post 2023 PYQ — Question 55

SSC Selection Post - Matriculation Level - 30 June 2023 - Shift 3 • Quantitative Aptitude • Q55

A sum becomes triple in 9 years. Find the annual rate of simple interest.

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. 2229% 22 {2\over9} \%\ .

Let principal = P

Triple amount = 3P

SI = 3P − P = 2P

⇒ SI = PRT100PRT\over100

⇒ 2P = P×R×9100P\times R\times9\over100

⇒ R = 2009200\over 9 = 2229% 22 {2\over9} \%\