SSC CHSL 6 Mar 2018 Shift 3 Paper

Section: English Language

Question : 11 of 100

Marks: +1, -0

A person borrows some money for 8 years at a rate of simple interest. If the ratio of principal and total interest is 5: 8, then what is the rate ( in percentage) of interest?

Validate

Solution:

Let Principal amount = Rs.5x and interest = Rs.8x
Let rate of interest = r% and time period = 8 years
⇒ Simple interest =

{P×R×T}/100

⇒

{5x×r×8}/100 =8x

⇒

{5r}/100 =1

⇒

r = 100/5 =20%

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