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SSC CHSL 2023 PYQ — Question 67

SSC CHSL - 08 Aug 2023 - Shift 4 • Quantitative Aptitude • Q67

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If the simple interest on ₹2,500 is more than the interest on ₹1,500 by ₹360 in 3 years, then find the rate of interest per annum.

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 12%.

S.I. = (P × R × T)/100

here, S.I. = Simple Interest, P = principal, R = Rate, and T = Time

According to the question

⇒ 2500×R×3100−1500×R×3100{{2500\times R\times3}\over100} - {{1500\times R\times3}\over 100}  = 360

⇒ 3R100(2500−1500){3R\over100}(2500 - 1500) = 360

⇒ 3R100×1000{3R\over100}\times1000 = 360

⇒ 3R = 36

⇒ R = 12%