A certain sum of money becomes 4 times in 12 years when invested at simple interest In how many year...........

Quantitative Aptitude (MTS) Simple Interest

A certain sum of money becomes 4 times in 12 years when invested at simple interest. In how many years will it become 10

times of itself at the same rate?

This questions was previously asked in

SSC MTS 18th October 2021 Shift-2

- To understand the problem, let's first determine the rate of interest.

- The money becomes 4 times its original value in 12 years.

- This means the interest is 3 times the original sum in 12 years (since simple interest is calculated as original sum x rate x time).

- Let the original amount be P. Then the total after 12 years is 4P, so interest earned is 3P.

- The formula for simple interest is Interest = Principal x Rate x Time.

- Therefore, 3P = P x R x 12, which simplifies to R = 1/4 per year.

Now, let's find when it becomes 10 times the original sum.

- Total amount = 10P, so interest earned is 9P.

- Using the formula again: 9P = P x (1/4) x Time.

- Simplifying, Time = 36 years.

- Option 4: 36 years is correct.

- Thus, the money will become 10 times in 36 years at the same rate.

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