Find the 10 Times of Rate of Interest.

A sum of money becomes 9 times in 20 years. Find the 10 times of rate of interest.

  1. 350%
  2. 45%
  3. 400%
  4. 250%
vijay Professor Asked on 2nd August 2015 in Maths.
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  • 1 Answer(s)

    Answer: (2) 45 %
    Explanation:-
    Given-
    Time = 20 years,  Let the principal be X  &   Rate = R %
    Then,  Amount = 9 X
    Simple Interest = 9 X – 8 X
    Formula-
    Simple Interest = P x R x T/100
    Where, P = principal , R = rate, & T = time.
    Then,  8 X = X x 20 x R/100
    8  = R/5
    R = 40 %
    If amount is 10 times .
    Then, Simple Interest = 10 X – X = 9 X
    9 X = X x 20  x R/100
    9   =  R/5
    R = 45 %
    Hence, the answer is (2) 45 %.

    Anurag Mishra Professor Answered on 2nd August 2015.
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