A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 7 2 years Find the sum and th...........

Quant (SSC) Simple Interest

A certain sum of money amounts to Rs. 1008 in 2 years and to Rs. 1164 in 7/2 years. Find the sum and the rate of interest.

10%

11%

12%

13%

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Explanation:

S.I. for 1 1/2 yrs = S.I. for 3 1/2 yrs – S.I. for 2 yrs = ?(1164 – 1008) = ? 156
S.I. for 1 yrs = ?(156 x 2/3) = ? 208.
S.I. for 2 yrs = ?(156 x 2/3 x 2) = ? 208.
So, principal = (Amount of 2 yrs – S.I. of 2 yrs)
= ?(1008 – 208) = Rs. 800.
Now P = 800, T = 2 yrs and S.I. = 208.
So, Rate = (100 × 208 /800 x 2)% = 13%