Multiple Choice Questions

A person borrowed some money on simple interest After 4 years he returned of the money to the lender...........

Quantitative Aptitude (CGL) Simple Interest

A person borrowed some money on simple interest. After 4 years, he returned ??/?? of the money to the lender. What was the rate of interest?

This questions was previously asked in

ssc cgl 2023 pre

25% p.a.

10% p.a.

15% p.a.

20% p.a

- When borrowing money on simple interest, interest is calculated on the original principal for the entire period.

- The person repaid a certain fraction (??/??) of the borrowed amount after 4 years.

- Simple interest (SI) is calculated using the formula: $SI = Principal \times Rate \times Time$ , where time is 4 years in this case.

- Determine x/y, so it clearly defines the fraction of total cash returned.

- Calculate which rate allows the borrower to repay this fraction of loan in given time.

- Evaluate options:

- Option 1: 25% p.a.

- Option 2: 10% p.a.

- Option 3: 15% p.a.

- Option 4: 20% p.a.

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