SSC CGL Model Paper 1

Question : 59 of 100

Marks: +1, -0

The ratio of the amount for two years under compound interest annually and for one year under simple interest is 9:8. If the rate of interest is same, then the value of rate of interest is:

12.5%
$11 1/9%$
8%
10%

Validate

Solution:

\ATQ ={P[1+r/100]^2}/{P+{Pr}/100}=9/8

{P[1+r/100]^2}/{P[1+{ r}/100]}=9/8

⇒

1+{ r}/100=9/8

⇒

r = 12 .5%

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