Question : At what percent of simple interest will a sum of money double itself in 15 years?
Option 1: $6\frac{1}{3}$%
Option 2: $6\frac{2}{3}$%
Option 3: $6\frac{1}{2}$%
Option 4: $6$%
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Correct Answer: $6\frac{2}{3}$%
Solution : Let the principal be Rs. $P$. As the amount doubles itself, the interest is Rs. $P$. Rate = $r$ So, Simple interest = $\frac{\text{Principal×Rate×Time}}{100}$ ⇒ $P =\frac{P×r×15}{100}$ ⇒ $r =\frac{100}{15}=6\frac{2}{3}$%. Hence, the correct answer is $6\frac{2}{3}$%.
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Question : A sum of money doubles itself in 7 years at simple interest. In how much time will it become 5 times itself?
Option 1: 25 years
Option 2: 28 years
Option 3: 23 years
Option 4: 21 years
Question : In how much time will the simple interest on a certain sum of money be $\frac{6}{5}$th times of the sum at 20% per annum?
Option 1: 7 years
Option 2: 8 years
Option 3: 5 years
Option 4: 6 years
Question : In how many years will a sum of Rs. 3000 yield an interest of Rs.1080 at 12% per annum simple interest?
Option 1: $4$ years
Option 2: $3$ years
Option 3: $5$ years
Option 4: $2\frac{1}{2}$ years
Question : At what rate of simple interest per annum will a sum of money triple itself in 16 years?
Option 1: 11.5%
Option 2: 11%
Option 3: 12%
Option 4: 12.5%
Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Option 1: $21\frac{3}{7}$%
Option 2: $21\frac{2}{7}$%
Option 3: $21\frac{1}{7}$%
Option 4: $21\frac{5}{7}$%
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