Multiple Choice Questions

Am amount becomes double in 8 years on simple interest In how many years would Rs 25 000 become Rs 1...........

Quantitative Aptitude (CGL) Simple Interest

Am amount becomes double in 8 years on simple interest. In how many years would Rs 25,000 become Rs. 1,00,000 with the same rate of interest?

This questions was previously asked in

ssc cgl 2023 pre

- On simple interest, an amount becomes double in 8 years. This indicates the interest rate is calculated based on simple interest principles.

- So, the rate of interest is such that it doubles the principal in 8 years.

- If Rs. 25,000 becomes Rs. 1,00,000, that means the amount quadruples (increases by four times).

- Under simple interest, tripling the principal would approximately take 3 times the doubling time, as the growth is linear.

- Therefore, it would take 8 (doubling time) x 3 = 24 years for the principal to quadruple under the same interest rate.

Correct Answer: Option:4, 24

Submit Error