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SSC CHSL 2024 · PYQ · Simple Interest · medium

The simple interest on a sum for 8 years is (4/5) of the sum. The rate of interest per annum is:

Answer

The correct answer is D: 10%. SI = P × R × T / 100. Given SI = 4P/5: 4P/5 = P × R × 8 / 100 → R = (4/5 × 100)/8 = 80/8 = 10% per annum.

  1. A.5%
  2. B.15%
  3. C.20%
  4. D.10%✓ Correct

Explanation

SI = P × R × T / 100. Given SI = 4P/5: 4P/5 = P × R × 8 / 100 → R = (4/5 × 100)/8 = 80/8 = 10% per annum.
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