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SSC MTS 2024 PYQ — Question 11

SSC MTS - 23/10/2024 - (9:00 AM - 11:00 AM) • Quantitative Aptitude • Q11

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Rohit invested a sum of money at simple interest and it became double itself in 4164{1\over6}years. The rate of interest per annum was:

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 24%.

Let's assume principal = P
Amount = 2P
Interest = 2P - P = P

Time = 4164{1\over6} = 22622\over6 years

Simple Interest (SI) = (P × R × T) / 100

P = (P × R × 22622\over6) / 100

1 = (R × 22622\over6) / 100

R = 100 × 6 / 25
R = 24%