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A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?
- a)22.22
- b)25
- c)17.25
- d)18.18
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
A sum of money is lent out at simple interest for three years. The rat...
Let the amount at the end of the first, second and third years be A1, A2 and A3
A1 : A2 : A3 = 6 : 8 : 9 of 12 : 16 :18
As ratio of the amount of interest of the first, second and third years = 1 : 4 : 2
P : A1 : A2 : A3 = 11 : 12 : 16 : 18
Rate of interest for the third year
Hence, option D is correct.
A1 : A2 : A3 = 6 : 8 : 9 of 12 : 16 :18
As ratio of the amount of interest of the first, second and third years = 1 : 4 : 2
P : A1 : A2 : A3 = 11 : 12 : 16 : 18
Rate of interest for the third year
Hence, option D is correct.
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Community Answer
A sum of money is lent out at simple interest for three years. The rat...
Given Data:
- Ratio of interest in the first, second, and third year: 1 : 4 : 2
- Ratio of amount at the end of the first, second, and third year: 6 : 8 : 9
Calculating Ratios:
- Let the interest for the first, second, and third year be 1x, 4x, and 2x respectively.
- The total amount at the end of the first year will be 6 parts, including the principal and interest.
- Similarly, the total amount at the end of the second and third years will be 8 parts and 9 parts respectively.
Calculating Total Amounts:
- Let the principal be P, and the rate of interest be R.
- The total amount at the end of the first year: P + 1x = 6 parts
- The total amount at the end of the second year: P + 5x = 8 parts
- The total amount at the end of the third year: P + 7x = 9 parts
Calculating Rate of Interest:
- From the given data, we can write the equations:
- P + 1x = 6P/8 (1)
- P + 5x = 8P/8 (2)
- P + 7x = 9P/8 (3)
- Solving equations (1), (2), and (3) simultaneously, we get x = P/8
- The rate of interest for the third year is 2x = 2P/8 = P/4 = 25%
Therefore, the rate of interest for the third year is 25%.
- Ratio of interest in the first, second, and third year: 1 : 4 : 2
- Ratio of amount at the end of the first, second, and third year: 6 : 8 : 9
Calculating Ratios:
- Let the interest for the first, second, and third year be 1x, 4x, and 2x respectively.
- The total amount at the end of the first year will be 6 parts, including the principal and interest.
- Similarly, the total amount at the end of the second and third years will be 8 parts and 9 parts respectively.
Calculating Total Amounts:
- Let the principal be P, and the rate of interest be R.
- The total amount at the end of the first year: P + 1x = 6 parts
- The total amount at the end of the second year: P + 5x = 8 parts
- The total amount at the end of the third year: P + 7x = 9 parts
Calculating Rate of Interest:
- From the given data, we can write the equations:
- P + 1x = 6P/8 (1)
- P + 5x = 8P/8 (2)
- P + 7x = 9P/8 (3)
- Solving equations (1), (2), and (3) simultaneously, we get x = P/8
- The rate of interest for the third year is 2x = 2P/8 = P/4 = 25%
Therefore, the rate of interest for the third year is 25%.
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A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?a)22.22b)25c)17.25d)18.18Correct answer is option 'D'. Can you explain this answer?
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A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?a)22.22b)25c)17.25d)18.18Correct answer is option 'D'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?a)22.22b)25c)17.25d)18.18Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?a)22.22b)25c)17.25d)18.18Correct answer is option 'D'. Can you explain this answer?.
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