Question : In what least number of complete years does a sum of money become more than four times itself at the rate of 50% per annum on simple interest?
Option 1: 9 years
Option 2: 7 years
Option 3: 6 years
Option 4: 5 years
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Correct Answer: 7 years
Solution : Let's suppose, in $Q$ years a sum of money, say $P$ becomes four times itself at the rate of 50% per annum on simple interest. We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ According to the question, $P+\frac{P(50)(Q)}{100}=4P$ ⇒ $\frac{PQ}{2}=4P - P$ ⇒ $\frac{Q}{2}=3$ $\therefore Q=6$ So, to become more than four times itself, the principal must take at least 6 + 1 = 7 years Hence, the correct answer is 7 years.
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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 : Rohan borrowed a certain sum of money at simple interest. The rate of interest was 3% per annum for the first 3 years, 4% per annum for the next 5 years and 6% per annum for the next 7 years. If he paid Rs. 2,059 as interest, then what is the sum borrowed (in Rs.)?
Option 1: 2400
Option 2: 2500
Option 3: 2900
Option 4: 3100
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 : 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: $21\frac{5}{7}$%
Question : A certain sum of money becomes triple itself in 26 years at simple interest. In how many years it will become five times of itself?
Option 1: 64 years
Option 2: 52 years
Option 3: 56 years
Option 4: 60 years
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