In what time does a sum of money amount to twice of itself at the simple interest of 25 per annum ........

Quantitative Aptitude (MTS) Simple Interest

In what time does a sum of money amount to twice of itself at the simple interest of 25% per annum?

This questions was previously asked in

SSC MTS 26th July 2022 Shift-2

10 years

4 years

8 years

2 years

To determine when the sum will amount to twice itself at 25% simple interest per annum, follow these steps:

- Formula: At simple interest, Interest = Principal × Rate × Time.

- The amount becomes twice; thus, the Interest = Principal.

- Using the formula: Principal = Principal × 0.25 × Time.

- This simplifies to 1 = 0.25 × Time.

- Solving this gives: Time = 1 / 0.25 = 4 years.

- Option 1 - 10 years: More time than needed.

- Option 2 - 4 years: Correct time required for the amount to double at 25% interest.

- Option 3 - 8 years: Longer time than required.

- Option 4 - 2 years: Insufficient time for doubling.

Option 2 - 4 years is correct.

Submit Error