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SSC Sample Paper Mock Test-15 SSC CGL Tear-II Paper-1

  • question_answer
    A certain sum of money at simple interest works out to Rs. 1012 in \[2\frac{1}{2}\text{yr}\] and to Rs. 1067.20 in 4 yr. The rate of interest per annum is

    A) 2.5%

    B)  3%   

    C)  4%

    D)  5%

    Correct Answer: C

    Solution :

    Interest for\[1\frac{1}{2}\]yr = Rs.\[(1067.20-1012)\] = Rs. 5520
    \[\therefore \] Interest of \[2\frac{1}{2}\]yr \[=55.20\times \frac{2}{3}\times \frac{5}{2}\]= Rs. 92
    \[\therefore \] Principal\[=1012-92\]= Rs. 920
    \[\therefore \] \[\text{Rate=}\frac{\text{SI }\!\!\times\!\!\text{ 100}}{\text{Principal }\!\!\times\!\!\text{ Time}}=\frac{92\times 100}{920\times \frac{5}{2}}=4%\]


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