A sum of money, lent out at simple interest, doubles itself in 8 years. Find : Show
SolutionLet P = Rs.100, A = Rs.200 I = Rs.200 − Rs.100 = Rs.100, T = 8 years R =`(100xx"I")/("P"xx"T")=(100xx100)/(100xx8)` `=100/8=25/2%` Now again P = Rs.100 A = Rs.300 I = Rs.300 − Rs.100 = Rs.200 R = `25/2%` T =`(100xx"I")/("P"xx"R")=(100xx200)/(100xx25/2)=(100xx200xx2)/(100xx25)` = 16 Years So the given sum of money will become triple in 16 years. Concept: Concept of Principal, Interest, Amount, and Simple Interest Is there an error in this question or solution? APPEARS INFree SSC GD Previous Paper 2 (Held On: 13 Feb 2019 Shift 1)_Hindi 100 Questions 100 Marks 90 Mins Given: Amount = 3/2 of the sum Time = 3 years Formula used: Simple interest = (P × R × T)/100 Amount = Principal + Interest Calculation: Let the sum of money be P Amount after 3 years will be 3/2P Now, by using the formula 3/2P – P = (PR × 3)/100 ⇒ R = 50/3 = 16\(\frac{2}{3}\)% ∴ The rate of interest is 16\(\frac{2}{3}\)%. Ace your Interest preparations for Simple Interest with us and master Quantitative Aptitude for your exams. Learn today! A sum becomes three times of itself in 10 years at the rate of simple interest. What is the rate of interest per annum?
Answer (Detailed Solution Below)Option 2 : 20% Free CT : GK (Ancient History) 10 Questions 10 Marks 6 Mins Given: A sum becomes three times of itself in 10 years at the rate of simple interest Amount(A) = 3Principal(P) Time(T) = 10 Rate(R) Formula Used: Amount = Principal + Simple Interest(S.I) S.I = (P × R × T)/100 Calculation: Here A = 3P ⇒ 3P = P + ((P × 10 × R)/100) ⇒ 3P = P (1 + (10 × R)/100) ⇒ 300 = 100 + 10R ⇒ 10R = 200 ⇒ R = 20% ∴ The rate of interest per annum is 20%.
Formula used: S.I = A - P S.I = (P × R × T)/100 Calculation: Here A = 3P ⇒ S.I = 3P - P ⇒ S.I = 2P ⇒ 2P = P × R × 10/100 ⇒ R = 2 × 10 = 20% ∴ The rate of interest per annum is 20%. Last updated on Oct 7, 2022 The Staff Selection Commission (SSC) has released the SSC MTS Result for the Paper I Examination which was held from 5th July to 26th July 2022. The candidates who are qualified in the SSC MTS Paper I are eligible for the Paper II, the paper II will be held on 6th November 2022. A total of 7709 vacancies are released, out of which 3854 vacancies are for MTS Group age 18-25 years, 252 vacancies are for MTS Group age 18-27 years and 3603 vacancies are for Havaldar in CBIC. Let's discuss the concepts related to Interest and Simple Interest. Explore more from Quantitative Aptitude here. Learn now!
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At what rate percent per annum will a sum triple itself in 12 years?Ans 16. 6% 3) Was this answer helpful?
At what rate of interest will 2500 Triple itself in 16 years?⇒R=162×100=12. 5%
At what rate percent per annum simple interest will a sum of money triples itself in 25 years?R=12. 5%
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At what percent per annum simple interest will a sum become three times of itself in 16 years?
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