CMAT 2018 Solved Question Paper

Question : 25 of 100

Marks: +1, -0

In how many years will ₹ 2 lakh double itself at 11.5% per annum simple interest?

Solution:

Principal =₹ 200000
Simple Interest =₹ 200000
Rate = 11.5% =

{23}/2

%
∴ Time =

{Sl × 100}/{P × r}

{200000 × 100 × 2}/{200000 × 23}

{200}/{23}

t = 8.69 yrs
⇒ Time is between 8 and 9 yrs.

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