In what time does a sum of money amount to twice of itself at simple interest of I 0 per annum ........

Quantitative Aptitude (MTS) Simple Interest

In what time does a sum of money amount to twice of itself at simple interest of I 0% per annum?

This questions was previously asked in

SSC MTS 6th July 2022 Shift-2

10 years

5 years

15 years

12.5 years

Let’s break this down:

- Simple interest doubles your money when the interest earned equals the original sum.

- The formula is: SI = P × R × T / 100. For doubling, SI = P, so P = P × R × T / 100 ? R × T = 100.

- Here, the rate R is 10% per annum.

- To find the time, T = 100 / R = 100 / 10 = 10 years.

Let’s look at your options:

- Option 1: 10 years That’s exactly what we calculated.

- Option 2: 5 years – At 10%, that only gets you half your money back, not double.

- Option 3: 15 years – You’ll land at 1.5x the original sum.

- Option 4: 12.5 years – That’s 1.25x, still not enough.

The right answer is Option 1: 10 years.

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