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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