RRB Paramedical Staff Nurse Model Paper 6

Question : 49 of 100

Marks: +1, -0

A person deposited Rs. 400 for 2 yr, Rs. 550 for 4 yr and Rs. 1200 for 6 yr. He received the total simple interest of Rs. 1020. The rate of interest per annum is

Validate

Solution:

Let the rate of interest be R% per annum.
Then

\;{400 × 2 × R}/{100}+\;{500 × 4 × R}/{100}+\;{1200 × 6 × R}/{100}=1020

⇒\;8 R+22 R+72 R=1020

⇒\;102 R=1020

⇒\; R=\;{1020}/{102}=10 \%

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