New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    In a certain duration of time, a sum becomes 2 times

    itself at the rate of 5% per annum simple interest. What will be the rate of interest if the same sum becomes 5 times itself in the same duration?
    A 15% Correct Answer Incorrect Answer
    B 20% Correct Answer Incorrect Answer
    C 12% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer

    Solution

    R1=5% and R2=r R1/I1 =R2/I2       … (1) ATQ- PrincipalAmountInterest 121(I1) 154(I2) Now From Equation (1)- 5/1=r/4 r = 20%.

    Practice Next

    Relevant for Exams: