Multiple Choice Questions on A sum becomes 6 fold at 5 per annum At what rate the sum becomes 12 fold ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum becomes 6 fold at 5 per annum At what rate the sum becomes 12 fold ........

Quant (SSC) Simple Interest
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    A sum becomes 6 fold at 5% per annum. At what rate, the sum becomes 12 fold?

    10%

    Incorrect Answer

    12%

    Incorrect Answer

    9%

    Incorrect Answer

    11%

    Correct Answer
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    Explanation:

    SI at 5% = 6P – P = 5P
    ∴ 5P = P × 5 × T /100
    ⇒  T = 100 yr
    Now, for new rate (R),
    11P = P × R × 100 /100
    ∴ R = 11%

    By: Amit Kumar
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