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SSC MTS 2023 · PYQ · Simple Interest · medium

Disha invested an amount of ₹20,000 for 9 years at a simple interest per annum and obtained the total amount of ₹33,500. What is the rate of interest?

Answer

The correct answer is D: 7.5%. Interest = 33500 − 20000 = 13500. Rate = (13500 × 100)/(20000 × 9) = 1350000/180000 = 7.5%.

  1. A.8%
  2. B.8.5%
  3. C.9%
  4. D.7.5%✓ Correct

Explanation

Interest = 33500 − 20000 = 13500. Rate = (13500 × 100)/(20000 × 9) = 1350000/180000 = 7.5%.
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