SSC CHSL 19 Mar 2020 Shift 2 Paper

Question : 65 of 100

Marks: +1, -0

Suresh lent out a sum of money to Rakesh for

5 {\yr}

at simple interest. At the end of

5 {\yr}

, Rakesh paid 9/8 of the sum to Suresh to clear out the amount. Find the rate of simple interest per annum.

Solution:

Let the sum of money lent out by Suresh to Rakesh be ₹P and let the rate of interest be

\R \%

\P+{\P \×5 \×\R}/{100}={9}/{8} \×\P

⇒

{\R}/{20}={9}/{8}-1={9-8}/{8}={1}/{8}

⇒

\R={20}/{8}=2.5 \%

p.a.

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