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Solution Let sum of money be P=100Interest per annum =10% amount = 2× 100 = 200 simple interest = 200 - 100 = 100Since, SI=PTR100⇒T=100×SIPR=100×100100×10∴t=10 years.Similar questions Q. A certain sum of money lent out at a certain rate of interest per annum,
doubles itself in 10 years. In how many years will it treble itself? Q. In how many years will a sum of money double itself at 4% per annum ? Q. In how much time, will a sum of money double itself at 12.5% per annum rate of interest. Q. At what rate percent per annum simple interest will a sum of money double itself in 6 years? Q. A sum of money lent out at C.I. at a certain rate per annum doubles itself in 5 years. Find in how many years will the money become eight times of itself at the same rate of interest p.a. View More `5%``10%``15%``20%` Solution : Let the principal be `Rs x` and the yearly rate of simple interest be `r%` <br> If the principal amounts `Rs 2x` in `10` years, <br> then the interest `=Rs(2x-x)=Rs x` <br> `:.` Total interest in `10` years `=(P rt)/(100)=Rs(x xx rxx10)/(100)=Rs(x r)/(10)` <br> `:.(xr)/(10)=ximpliesr=(x xx10)/(x)=10` <br> `:.` Rate of yearly simple interest `=10%` In how much time a certain amount will be doubled at simple interest if the rate of interest is 20% and interest is calculated half-yearly.
Answer (Detailed Solution Below)Option 4 : None of these Given: The rate of interest = 20% The interest is calculated half-yearly Concept: If a certain amount is doubled, the interest is equal to the amount. If the interest is calculated half-yearly and the rate of interest is R% per annum and Time is T then the rate of interest will be R/2% and time will be 2T. Formula used: Simple interest = (Principle × time × rate)/100 Calculation: Let time be x. The interest is calculated half-yearly. So, the rate of interest = 20/2 = 10% And time = 2x Let the amount be y, then interest is also equal to y. ⇒ y = (y × 10 × 2x)/100 ⇒ y = xy/5 ⇒ x = 5 years ∴ In 5 years a certain amount will be doubled at simple interest if the rate of interest is 20%. Alternate Method Let the principal be 100 So, interest = 100 Rate = 20% due to half-yearly rate becomes 10% Let time be t years due to half-yearly time becomes 2t We know that, SI = PRT/100 100 = 100 × 10 × 2t/100 t = 5 years Ace your Interest preparations for Simple Interest with us and master Quantitative Aptitude for your exams. Learn today! What rate of simple interest per annum an amount will be double in 10 years?As we know the simple interest means principle amount subtracted from final amount i.e. Hence the required rate in which the sum becomes double itself in 10 years is 10%.
In what time will a sum of money doubles itself at the rate 10% per annum?A certain sum of money lent out at a certain rate of interest per annum, doubles itself in 10 years.
At what rate per cent per annum will a sum of money double itself in 10 years interest compounded annually?⇒R=10%
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At what rate of simple interest per annum an amount will be doubled in 10 years?
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