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SSC CGL 2023 PYQ — Question 56

SSC CGL - 21 July 2023 - Shift 4 • Quantitative Aptitude • Q56

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R wants to deposit ₹80,000 in the bank for a year. In his account, the bank gives 12% simple annual interest but charges ₹3,000 as a processing fee for the account. What would be his percentage earnings in the account?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 8.25%.

S.I = P×R×T100\frac{P × R ×T}{100}

S.I = 80000×12100\frac{80000 × 12}{100} = 9600

Processing fees charged = Rs. 3000

Hence net interest = 9600 - 3000 = 6600

Percentage earnings = 660080000×100\frac{6600}{80000}×100 = 8.25%