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SSC Selection Post 2024 PYQ — Question 73

SSC Selection Post - Graduation Level - 26 June 2024 - Shift 3 • Quantitative Aptitude • Q73

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An amount will be triple itself in 15 years at a certain rate of simple interest per annum. The rate of interest per annum is:

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 131313{1\over3}%.

Let principal = P

Triple itself ⇒ Amount = 3P

Simple Interest = 3P − P = 2P

Time = 15 years

Use SI formula:

SI = (P × R × T) / 100

2P = (P × R × 15) / 100

Cancel P:

2 = (R × 15) / 100

⇒ R = (2 × 100) / 15 = 200 / 15 = 13 1/3%