Question : At what rate percent per annum will a sum of money triples in 20 years on simple interest?
Option 1: 10%
Option 2: 12%
Option 3: 18%
Option 4: 20%
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 10%
Solution : Let $P$ be the principal sum. Total amount = $3P$ Simple interest = $3P- P$ = $2P$ Term, $n$ = 20 years Let $R$ be the rate of interest. Simple interest, SI = $\frac{PnR}{100}$ ⇒ $2P = \frac{P×20×R}{100}$ ⇒ $R= \frac{200}{20}= 10$% Hence, the correct answer is 10%.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : In how many years will the simple interest on a sum of Rs. 6000 lent at 5% per annum be equal to the simple interest on a sum of Rs. 2000 lent for 30 years at 4% per annum?
Question : A sum of Rs. 11,500 amounts to Rs. 12,880 in 2 years at the rate of simple interest. What is the rate of interest?
Question : What will be the ratio of the simple interest on 1,000 for 2 years at 5% per annum to the simple interest on the same sum for the same period at 10% per annum?
Question : The compound interest (compounding annually) on a certain sum for 2 years at the rate of 20 percent per annum is Rs. 2420. What will be the simple interest on the same sum for 3 years at the same rate of interest?
Question : On a certain sum of money, the simple interest for 2 years is INR 150 at the rate of 10% per annum. What is the difference between compound interest and simple interest for 2 years if, in the case of compound interest, interest is compounded annually at the rate of 10% per
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile