New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Register

    Question

    A sum of money triples itself in 12 years. Find

    the rate percent per annum.
    A 14%p.a. Correct Answer Incorrect Answer
    B 16.50% p.a. Correct Answer Incorrect Answer
    C 16.66%p.a. Correct Answer Incorrect Answer
    D 18%p.a. Correct Answer Incorrect Answer

    Solution

    Let the Principal = Rs 100 Amount = Rs 300 [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->Amount = P + I [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->300 = 100 + I I = 300 – 100 = Rs 200 [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->R =`(SI xx 100)/(Pxx T)` [if gte msEquation 12]> SI ×100 P × T [if !msEquation]-->[endif]--> ⇒`(200 xx 100)/(100xx 12)` [if gte msEquation 12]> 200  ×  100 100  ×  12 [if !msEquation]-->[endif]--> [if gte msEquation 12]>∴ [if !msEquation]-->[endif]-->R = 16.66% p.a.

    Practice Next