Question
Download Solution PDFAt what rate of interest (in percentage) per year will a sum of money double itself in 4 years on simple interest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Time (t) = 4 years
Final Amount = 2 × Principal (P)
Formula used:
Simple Interest (SI) = (P × r × t)/100
Where, SI = Final Amount - Principal (P)
Calculation:
Final Amount = 2 × Principal (P)
⇒ SI = Principal (P)
⇒ Principal (P) × r × t/100 = Principal (P)
⇒ r × t = 100
⇒ r × 4 = 100
⇒ r = 100/4
⇒ r = 25%
∴ The correct answer is option (3).
Last updated on Jul 19, 2025
-> RRB NTPC Under Graduate Exam Date 2025 has been released on the official website of the Railway Recruitment Board.
-> The RRB NTPC Admit Card will be released on its official website for RRB NTPC Under Graduate Exam 2025.
-> CSIR NET City Intimation Slip 2025 Out @csirnet.nta.ac.in
-> HSSC CET Admit Card 2025 has been released @hssc.gov.in
-> Candidates who will appear for the RRB NTPC Exam can check their RRB NTPC Time Table 2025 from here.
-> The RRB NTPC 2025 Notification released for a total of 11558 vacancies. A total of 3445 Vacancies have been announced for Undergraduate posts like Commercial Cum Ticket Clerk, Accounts Clerk Cum Typist, Junior Clerk cum Typist & Trains Clerk.
-> A total of 8114 vacancies are announced for Graduate-level posts in the Non-Technical Popular Categories (NTPC) such as Junior Clerk cum Typist, Accounts Clerk cum Typist, Station Master, etc.
-> Prepare for the exam using RRB NTPC Previous Year Papers.
-> Get detailed subject-wise UGC NET Exam Analysis 2025 and UGC NET Question Paper 2025 for shift 1 (25 June) here
->Bihar Police Driver Vacancy 2025 has been released @csbc.bihar.gov.in.