At What Rate of Annual Simple Interest, a Sum will Amount to Five Times in 16 Years?

  1. 15%
  2. 20%
  3. 25%
  4. 22.5%
Monis Rasool Professor Asked on 11th October 2015 in Maths.
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1 Answer(s)

Answer: (3) 25%

Explanation:-
Let the principal be = Rs. X  and rate = R%

Formula-
Simple Interest = P x R x T/100
Where, P = principal, R = rate, & T = time.

According to the question,
Simple interest = 5 X – X = 4 X  &  Time = 16 years
Then,  4 X = X x R x 16/100
4 = 4 R/25
R = 25%

Then, 25% of simple interest, a sum will amount to five times in 16 times.

Hence, the answer is (3) 25%.

 

Anurag Mishra Professor Answered on 11th October 2015.
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