Multiple Choice Questions on In a certain time a sum becomes 3 times at the rate of 5 per annum At what rate of interest the same........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

In a certain time a sum becomes 3 times at the rate of 5 per annum At what rate of interest the same...........

Quant (SSC) Simple Interest
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    In a certain time, a sum becomes 3 times at the rate of 5% per annum. At what rate of interest the same sum becomes 6 times in same duration?

    7%

    Incorrect Answer

    9%

    Incorrect Answer

    12.5%

    Correct Answer

    17%

    Incorrect Answer
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    Explanation:

    Amount = P + S.I
    3P = P + S.I;   S.I = 2P
    i.e. if Amount = 6P then S.I = 5P
    S.I = P × R × T / 100
    2P = P × R × T / 100
    T = 200/5
    5P = P × R × 200 / 100 x 5
    R = 25/2% = 12.5%

    By: Amit Kumar
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