Question
At what percent by simple interest will a sum of money double itself in 5 years 4 months?
Hint:
Use the formula of total amount and then find the rate of interest R.
The correct answer is: 18.75%
Complete step by step solution:
Formula for total amount = A = P + SI…(i)
where A is the total amount, P is the principal amount and SI is simple interest .
Here, A = 2P and SI =
where P is Principal amount, T is number of years and R is the rate of interest.
We have, T = 5 years and 4 months = years (given) and R =
?
On substituting the known values in (i), we have .
Subtract P from both sides.
Then we have, So, we have R = 18.75%
At 18.75% per annum the sum amount will double itself in 5 years and 4 months.
At 18.75% per annum the sum amount will double itself in 5 years and 4 months.
Transcript
at what rate percent will a sum of money Doubles itself in 6 years in this question we have been given that consider principal to BP principle is equals to pee so amount is equals to twice of PV know that formula for SI is equals to amount - principle that is topi -3 which is equals to also simple interest is equal to p into our into it upon 130 is equal to p into our in 26 upon hundred Soapy get cancer from this p&r comes out to be 106 that is is equal to 50 by 3 or we can say that 62 by 3%
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
No worries! We‘ve got your back. Try BYJU‘S free classes today!
No worries! We‘ve got your back. Try BYJU‘S free classes today!
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Solution
The correct option is A 5%
Given, time = 20 years.
Let the
sum invested be ₹ 100.
So, the Amount received after 20 years = ₹ 200.
We know that,
Principal + Interest = Amount.
Hence, Interest = Amount - Principal = ₹ (200-100) = ₹ 100.
The Simple Interest earned on a sum of ₹ P for a period of T years at the rate of R% p.a S.I is given by P×R× T100.
So, ₹ 100 = 100×
R×20100
Hence, R = 5%.
Textbooks
Question Papers
Home