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Hint: We will assume the sum invested as x rupees. We have been given that it becomes triple after 3 years which means it becomes 3 x. Now, we know that the final amount = principal amount + simple interest. So, we will find the simple interest from that and using the formula, $\text{simple interest}=\dfrac{\text{principal amount}\times \text{time}\times \text{rate}}{100}$, we will find the rate of interest. Complete step-by-step answer: Note: There is a possibility that the students think that the simple interest becomes triple of the principal amount, that is simple interest is 3 x. So, in further calculations for finding the rate of interest, they will end up with, $rate=\dfrac{3\times 100}{16}\Rightarrow 18.75\%$. But students should read the question carefully to understand that the sum becomes triple, which means the principal amount becomes triple after 16 years. | At what rate per annum with simple interest will any money becomes thrice in 12.5 years? Please scroll down to see the correct answer and solution guide. Right Answer is: BSOLUTIONConcept used: R = (I × 100)/(P × T) A = P + I Where R = rate of interest, P = principal, I = interest T = time and A = Amount Calculation: Let P = 100 than A = 300 I = 300 - 100 = 200 R = (200 × 100)/(100 × 12.5) ⇒ R = 200/12.5 ∴ Rate of interest is 16% Related QuestionsCorrect Answer - Option 2 : 16% Concept used: R = (I × 100)/(P × T) A = P + I Where R = rate of interest, P = principal, I = interest T = time and A = Amount Calculation: Let P = 100 then A = 300 I = 300 - 100 = 200 R = (200 × 100)/(100 × 12.5) ⇒ R = 200/12.5 ∴ Rate of interest is 16%
Answer (Detailed Solution Below)Option 2 : 16% Amount = 3P SI = 3P – P = 2P SI = (P × T × R)/100 ⇒ 2P = (P × 12.5 × R)/100 ⇒ R = 100/12.5 = 16% Ace your Interest preparations for Simple Interest with us and master Quantitative Aptitude for your exams. Learn today! Free History of Indian Constitution 15 Questions 15 Marks 9 Mins Latest MP Police Constable Updates Last updated on Nov 15, 2022 MP Police Constable Final Result announced. The Madhya Pradesh Police had announced a total of 4000 vacancies for the post of Constable. The selection process for MP Police Constable includes Written Test, Physical Efficiency Test ,Physical Measurement Test, and Trade/Driving Test (for the post of Driver only). The salary of the finally appointed candidates will be in the range of INR 19,500 - INR 62,600. Let's discuss the concepts related to Interest and Simple Interest. Explore more from Quantitative Aptitude here. Learn now! At what rate per annum with simple interest will money becomes thrice in 12.5 years?R=12. 5%
At what rate of simple interest will a sum of money doubles itself in 12.5 years?r=12100=831percent.
At what rate per annum with SI will any money double in 12.5 years?R ==1/12.5 ==0.08 x 100==8% simple interest to double your money in 12.5 years.
How many years does a sum of money becomes 3 times itself at 12.5% pa simple interest?Solution : Let T years be the required time period. <br> Given that, <br> Amount `(A)=3 xx ` Principal (P) <br> `therefore P(1+(TR)/(100))=3P` <br> `implies 1+(12T)/(100)=3 implies T=(200)/(12)=16(2)/(3)` years <br> Hence, required time period`=16(2)/(3)` years.
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