Question : What is that rate of simple interest at which a sum of money becomes three times itself in 36 years?
Option 1: 7.28%
Option 2: 6.86%
Option 3: 5.55%
Option 4: 6.28%
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Correct Answer: 5.55%
Solution : According to the question: ⇒ Principal + Interest = 3 × Principal ⇒ $P + \frac{P× R×T}{100} = 3P$ ⇒ $P(1 + \frac{R × T}{100}) = 3P$ ⇒ $(1 + \frac{R × T}{100}) = 3$ ⇒ $\frac{R × 36}{100} = 2$ ⇒ $R = \frac{200}{36}$ ⇒ $R = 5.56$% Hence, the correct answer is 5.55%.
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Question : If a sum triples in 4 years at simple interest, find the time that it would take to become 5 times itself at the same rate of interest.
Option 1: 6 years
Option 2: 8 years
Option 3: 5 years
Option 4: 3 years
Question : What is the approximate rate of simple interest per annum, if a sum of money becomes 6 times of itself in 15 years?
Option 1: 30%
Option 2: 2.5%
Option 3: 33.33%
Option 4: 25%
Question : At a certain rate of interest per annum, compounded annually, a certain sum of money amounts to two times itself in 11 years. In how many years will the sum of money amount to four times itself at the previous rate of interest per annum, also compounded annually?
Option 1: 20 years
Option 2: 5.5 years
Option 3: 22 years
Option 4: 33 years
Question : A certain sum of money amounts to 3 times itself in 13 years when interest is compounded annually at a certain interest rate per annum. In how many years will the initial sum amount to 9 times itself at the same interest rate per annum, also compounded annually?
Option 1: 32 years
Option 2: 26 years
Option 3: 30 years
Option 4: 20 years
Question : A sum of Rs. 600 becomes Rs. 840 at simple interest in 4 years. In how many years will the sum of Rs. 1500 amount to Rs. 2100 at the same rate of simple interest?
Option 1: 5 years
Option 2: 4 years
Option 3: 2 years
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