OS is set of activities which enables a user or group of users to make utilization of system resources. Multiprogramming OS runs several jobs concurrently. The aim of the multiprogramming is to use the system resources optimally. Optimal resource utilization can be attained by effective and efficient sharing of resources between several users and jobs. Optimal resource allocation relies on effective and well-organized job scheduling at the processor. Job scheduling is a main part of multiprogramming OS. Since the processor is the main essential resource, job/processes scheduling also known as CPU scheduling, develop into one of the core components of OS. CPU Scheduling plays a very important function in efficient and effective use of resources. Various algorithms have been suggested for implementation of CPU scheduling to attain the optimality in OS. Our research work introduces new CPU scheduling algorithm with the high degree objective of optimality in effectiveness and performance. This research work compares the suggested new CPU scheduling algorithm with the existing classical algorithms and recently published ones. Simulation is used for the relative performance study of various CPU scheduling algorithms using synthetic workload. The results of simulations are in form of scheduling performance metrics as per the standard practices followed by the scientists of OS. The simulation may also be used for the guidance and exercise of students of OS.