SSC MTS 2 Aug 2019 Shift 2 Paper

Question : 36 of 100

Marks: +1, -0

A person deposited Rs. 500 for 2 years, Rs. 600 for 5 years and Rs. 1000 for 6 years all at the same rate of simple interest. If he received the total simple interest of Rs. 1000, then what is the rate of interest per annum?

Validate

Solution:

Simple interest

=\Prt/100

⇒

1000={500×\R×2}/100+{600×\R×5}/100+{1000×\R×6}/100

⇒ 1000 = 10R + 30R + 60R
⇒ 100R = 1000
⇒ R = 10%
∴ The rate of interest per annum is 10%

Go to Question:

Prev Question

Next Question