Simple Interest

Quantitative Aptitude (CPO)

Title

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Indian Economy - Understanding the basics of Indian economic system

A person invested a sum of Rs10,500 at x% per annum atsimple interest and a sum of Rs13,500 at (x + 2)% p.a. at simpleinterest. If the

total interest earned on both the investmentsfor 3 years is Rs7,650, then the rate of interest on the first investment is:

This questions was previously asked in

SSC CPO 11th Dec 2019 Shift-2

8.5%

9.5%

To solve the problem, let's calculate:

- First investment: Rs 10,500 at x% for 3 years yields interest = 3 * 10500 * (x/100).

- Second investment: Rs 13,500 at (x + 2)% for 3 years yields interest = 3 * 13500 * ((x + 2)/100).

- Total interest from both = 7650.

For the calculations:

1. The equation becomes: 315x + 405(x + 2) = 7650.

2. Simplifying, we get: 720x + 810 = 7650.

3. Further simplification gives: 720x = 6840.

4. Solving for x, we find x = 9.

So, the rate of interest for the first investment is 9%.

- Option 1 is 8% ?

- Option 2 is 8.5% ?

- Option 3 is 9%

- Option 4 is 9.5% ?