SSC GD 2024 PYQ — Question 60

The correct answer is option 3 i.e. 1 percent.

Given that

S.I received on the sum = 2/5 of the sum

Let the sum be denoted by P

let R denote the rate of interest

Time = T = 40

Formula used 

S.I = $\frac{P × R ×T}{100}$

$\frac{2}{5}$P = $\frac{P × R × 40}{100}$

Solving for R we get

R =  $\frac{200}{200}$ = 1

Hence, the annual rate of interest is 1 percent.