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SSC Selection Post 2022 PYQ — Question 66

SSC Selection Post - Matriculation Level 2022 - 3 Aug 2022 - Shift 1 • Quantitative Aptitude • Q66

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A sum is invested at CI payable annually. The interest in 2 successive years was Rs.225 and Rs.238.50, respectively. Find the rate percentage per annum.

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 6%.

Difference  = ₹238.50 - ₹225 = ₹13.50

This ₹13.50 is interest on ₹225 (1st year's interest).

Simple interest formula for 1 year:

Interest  =P×R×T100⇒13.50=225×R×1100 \frac{\text{P} \times R \times T}{100} \Rightarrow 13.50 = \frac{225 \times R \times 1}{100}

⇒13.50=225R100⇒R=13.50×100225=1350225=6%13.50 = \frac{225R}{100} \Rightarrow R = \frac{13.50 \times 100}{225} = \frac{1350}{225} = {6\%}