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Suptisree Biswas
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Asked: 2024-07-10T22:30:03+05:30 In:

In certain time a sum becomes 4 times at the rate of 5% per annum. At what rate of simple interest the same sum becomes 8 times in the same duration?

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0%12 2/3% ( 0 voters )
0%11 3/5% ( 0 voters )
100%11 2/3% ( 1 voter )
0%12 3/5% ( 0 voters )
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In certain time a sum becomes 4 times at the rate of 5% per annum. At what rate of simple interest the same sum becomes 8 times in the same duration?

1 Answer

  1. Suptisree Biswas
    Knowledge Contributor

    Case I,
    Principal = Rs. x
    Interest = 4x – x = Rs. 3x
    Therefore, Time = (S.I. × 100)/(Principal × Rate)
    = (3x × 100)/(x × 5) = 60 years
    Case II,
    Time = 60 years
    Interest = Rs. 7x
    Therefore, Rate = (Interest × 100)/(Principal × Time)
    = (7x × 100)/(x × 60)
    = 35/3
    = 11 2/3% per annum
    Answer: At 11 2/3% of simple interest the same sum becomes 8 times in the same duration.

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