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SSC CGL 2022 PYQ — Question 55

SSC CGL - 13 April 2022 - Shift 1 • Quantitative Aptitude • Q55

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Simple interest on a certain sum is one - fourth of the sum and the interest rate percentage per annum is 4 times the number of years . If the rate of interest increases by 2% , then what will be the simple interest ( in Rs) on Rs 5,000 for 3 years ?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 1,800

 Given that P = 4SI ( SI is the fourth time of the Sum)

 Rate of Interest  R = 4T ( fourth time in a number of Years) 

For the Rate of interest , R = (SI X 100)/ P X T = (SI X 100)/ 4SI  X 4R  

                                       R2 = 10 % 

                                      R = 12% 

now if after increasing the Rate by 2% new rate of interest will be = 12% 

                                    SI =  (5000 X 3 X  12)/ 100 = 1800 Rs.