send mail to support@abhimanu.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
By Loging in you agree to Terms of Services and Privacy Policy
Claim your free MCQ
Please specify
Sorry for the inconvenience but we’re performing some maintenance at the moment. Website can be slow during this phase..
Please verify your mobile number
Login not allowed, Please logout from existing browser
Please update your name
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Your Free user account at abhipedia has been created.
Remember, success is a journey, not a destination. Stay motivated and keep moving forward!
Refer & Earn
Enquire Now
My Abhipedia Earning
Kindly Login to view your earning
Support
Type your modal answer and submitt for approval
What is the approximate rate of simple interest per annum, if a sum of money becomes 6 times of itself in 15 years?
2.5%
33.33%
30%
25%
To find the approximate rate of simple interest per annum, let's use the simple interest formula:
- Formula: \( A = P(1 + rt) \)
- Where:
- \( A \) = Final amount
- \( P \) = Principal amount (initial sum)
- \( r \) = Rate of interest per annum
- \( t \) = Time period in years
Given that the sum becomes 6 times in 15 years, we have:
- Equation: \( 6P = P(1 + 15r) \)
- Simplifying gives \( 5P = 15Pr \)
- Simplifying further, \( r = \frac{1}{3} \)
Convert \( \frac{1}{3} \) to a percentage:
- \( r = \frac{1}{3} \times 100 = 33.33\% \)
So, the correct option is:
- Option 2: 33.33%
By: santosh ProfileResourcesReport error
Access to prime resources
New Courses