If a sum of money amounts to 12900 and 14250 at the end of 4th year and 5th year respectively a cert...........

Quant (SSC) Simple Interest

If a sum of money amounts to ? 12900 and ? 14250 at the end of 4th year and 5th year respectively a certain rate of simple interest, then the rate of interest is

10%

12%

18%

20%

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Explanation:

S.I. for 1 year = S.I. for 5 years – S.I. for 4 years
= 14250 – 12900 = ? 1350
therefore, S.I. for 4 years = 1350 × 4 = ? 5400
∴ Principal = Amount of 4 years – S.I. of 4 years = 12900 – 5400 = ? 7500
⇒ Rate of interest = S.I. × 100 / P x T
= 5400 × 100 /7500 x 4 = 18% p.a.