Quantitative Aptitude Ques 1526

Question: A sum amounts double in 8 yr by simple interest. Then, the rate of simple interest per annum is

Options:

A) 10%

B) 12.5%

C) 15%

D) 20%

Show Answer

Answer:

Correct Answer: B

Solution:

  • (b) Let the amount be Rs. x. According to the question, After 8 yr, amount $ =Rs\text{. 2}x $ Now, simple interest $ (SI)=2x-x=x $ Again, by the formula, $ SI=\frac{P\times r\times t}{100} $
    $ \Rightarrow $ $ x=\frac{x\times r\times 8}{100} $

$ \Rightarrow $ $ r=\frac{100}{8}=12.5% $ Alternate Method Here, $ t=8yr, $ $ n=2 $

$ \therefore $ Required rate per cent $ =\frac{n-1}{t}\times 100 $ % $ =\frac{2-1}{8}\times 100 $ % $ =\frac{1}{8}\times 100=12.5 $ %

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