Question
Download Solution PDFAt what rate percent per annum simple interest, a sum of money triples itself in 16 years?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept used:
Simple interest = (P × t × r)/100, where P = principle, r = rate and t = time
Calculation:
If a sum of money P, triples itself and becomes 3P, then interest = (3P - P) = 2P
(P × 16 × r)/100 = 2P
⇒ 16 × r = 200
⇒ r = 200/16
⇒ r = 12.5
∴ The correct answer is 12.5%
Last updated on Jun 25, 2025
-> The SSC CGL Notification 2025 has been released on 9th June 2025 on the official website at ssc.gov.in.
-> The SSC CGL exam registration process is now open and will continue till 4th July 2025, so candidates must fill out the SSC CGL Application Form 2025 before the deadline.
-> This year, the Staff Selection Commission (SSC) has announced approximately 14,582 vacancies for various Group B and C posts across government departments.
-> The SSC CGL Tier 1 exam is scheduled to take place from 13th to 30th August 2025.
-> Aspirants should visit ssc.gov.in 2025 regularly for updates and ensure timely submission of the CGL exam form.
-> Candidates can refer to the CGL syllabus for a better understanding of the exam structure and pattern.
-> The CGL Eligibility is a bachelor’s degree in any discipline.
-> Candidates selected through the SSC CGL exam will receive an attractive salary. Learn more about the SSC CGL Salary Structure.
-> Attempt SSC CGL Free English Mock Test and SSC CGL Current Affairs Mock Test.
-> Candidates should also use the SSC CGL previous year papers for a good revision.
->The UGC NET Exam Analysis 2025 for June 25 is out for Shift 1.