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SSC Selection Post 2020 PYQ — Question 66

SSC Selection Post - Matriculation Level 2020 - 9 Nov 2020 - Shift 1 • Quantitative Aptitude • Q66

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At what rate per annum will a sum of ₹15,800 become ₹21,488 after 18 months, at simple interest?
 

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Correct answer: C

Explanation

The correct answer is option 3 i.e. 24%.

P = ₹15,800, A = ₹21,488, T = 1.5 years
SI = A - P = ₹21,488 - ₹15,800 = ₹5,688

SI  =P×R×T100= \frac{P \times R \times T}{100} \\

5688=15800×R×1.5100=23700R1005688=237RR=5688237=245688 = \frac{15800 \times R \times 1.5}{100} = \frac{23700R}{100} \\ 5688 = 237R \\ R = \frac{5688}{237} = 24%