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SSC Sample Paper SSC CGL - Sample Paper-26

  • question_answer
    A sum of money doubles itself in 12 yr if invested at simple interest. What is the rate of interest allowed on the investment?

    A) 9.5%                

    B) 8.25%

    C) 8.5%                

    D) 8.33%

    Correct Answer: D

    Solution :

    Let the sum \[=Rs.\,P\] \[\therefore \] Amount \[==Rs.\,2P\] \[\therefore \]      \[SI=Rs.\,P\] And      \[t=12\,yr\] Now,     \[P=\frac{P\times r\times 12}{100}\] \[\Rightarrow \]   \[r=\frac{100}{12}=8.33%\]


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