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SSC MTS 2022 PYQ — Question 63

SSC MTS - 19 July 2022 - Shift 1 • Quantitative Aptitude • Q63

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If the total simple interest received on a sum for 25 years is equal of the principal, what is the rate of simple interest paid per annum?

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 4%.

Concept Used:

SI=P×R×T100SI = {P × R × T\over 100}.....(i)

Given:

SImple interest = Principal

T = 25 years 

Now, using equation (i)

⇒ P = (P × R × 25)/100 

⇒ R = 100/25

⇒ R = 4.

Hence the required rate of interest is 4%.