SSC Sample Paper Mock Test-12 SSC CGL Tear-II Paper-1

A certain sum of money amounts to Rs. 756 in 2 yr and to Rs. 873 in \[3\frac{1}{2}\]yr at a certain rate of simple interest. The rate of interest per annum is

A) 10%

B) 11%

C) 12%

D) 13%

Correct Answer: D

Solution :

SI for \[1\frac{1}{2}\text{yr}\]= Rs. \[(873-756)\]= Rs. 117

SI for 2 yr = Rs. \[\left( 117\times \frac{2}{3}\times 2 \right)\]= Rs. 156

\[\therefore \] Principal \[=756-156\]= Rs. 600

Now, P = 600, T = 2

SI =156

\[\therefore \]\[R=\frac{100\times SI}{P\times T}=\frac{10\times 156}{600\times 2}=13%\]