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SSC Selection Post 2019 PYQ — Question 66

SSC Selection Post - Matriculation Level 2019 - 14 Oct 2019 - Shift 1 • Quantitative Aptitude • Q66

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A sum of 825 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of 412.50 more is lent but at the rate twice the former. At the end of the year. 35.75 is earned as interest from both the loans. What was the original rate of interest?

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Correct answer: B

Explanation

The correct answer is Option 2 i.e. 2.6%

Let rate = R%

Interest for 8 months = 825×R×812×100\frac{825 \times R \times 8}{12 \times 100}  = 5.5R

Sum for last 4 months = Rs. 825 + 412.50 = Rs.1237.50

Rate of interest for last 4 months = 2R

Interest for last 4 months =1237.5×2R×412×100=8.25R\frac{1237.5 \times 2R \times 4}{12 \times 100} = 8.25R

Total interest for 1 year = 5.5R + 8.25R = 13.75R

13.75R = 35.75

R = 2.6%