A certain sum doubles itself on simple interest in 10 years At the same rate of interest in how many...........

Quantitative Aptitude (MTS) Simple Interest

A certain sum doubles itself on simple interest in 10 years. At the same rate of interest in how many years it will become 3

times of itself?

This questions was previously asked in

SSC MTS 20th October 2021 Shift-1

- A sum doubles itself in 10 years with simple interest. So, in 10 years, the interest earned is equal to the principal.

- Simple interest is calculated as \(SI = \frac{P \times R \times T}{100}\), where P is the principal, R is the rate, and T is the time.

- Since the interest equals the principal in 10 years, the interest rate R can be deduced to be 10% per year.

- To become three times the original amount, the sum would need to generate twice the principal as interest.

- Twice the principal requires double the time as that needed to double it once at the same rate.

- Therefore, it will take another 10 years to add another 100% of the principal as interest.

- Thus, it will take a total of \(10 + 10 = 20\) years to triple the original sum.

Option 3: 20 years is the correct choice.

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