SSC Selection Post 2024 PYQ — Question 59

SSC Selection Post - Matriculation Level - 20 June 2024 - Shift 4 • Quantitative Aptitude • Q59

A sum of ₹2,400 gives a simple interest of ₹378 in 2 years 4 months. What is the rate of interest per annum?

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. 6.75%.

SI = PRT100PRT\over100

Time(T) = 2 years 4 months = 2 + 4124\over12 = 2 + 131\over3 = 737\over3

378 = 2400×R×731002400\times R\times{7\over3} \over 100

R = 37856378\over56 = 6.75%