Find Out the Rate Percent? if

In certain time, a sum becomes 4 times at the rate of 5% per annum. At what rate of simple interest the same sum becomes 8 times in the same duration?

  1. 48/3%
  2. 58/5%
  3. 35/3%
  4. 63/3%
Abdul Salam Newbie Asked on 6th August 2015 in Maths.
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  • 1 Answer(s)

    Answer: (3) 35/3%

    Explanation:-
    Let the principal be Rs. X

    Given-
    Amount = 4 times of the principal = 4 X, Rate = 5%
    Formula-
    Simple Interest = P x R x T/100
    Where, P = principal , R = rate, & T = time.

    Then, 3 X  =  X x 5 x T/100
    3 = T/20
    T = 60 years

    If principal becomes 8 times in the same duration,
    Then,  7 X = X x 60 x R/100
    7 = 3 R/5
    3 R = 5 x 7
    R = 35/3%

    Then, the 35/3%  rate of simple interest the same sum becomes 8 times in the same duration.

    Hence, the answer is (3) 35/3%.

    Anurag Mishra Professor Answered on 11th September 2015.
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