Madhya Pradesh Police Exam Model Paper 3

Question : 56 of 100

Marks: +1, -0

At what rate per annum with simple interest will any money becomes thrice in 12.5 years?

Solution:

Concept used:

R = (I × 100){/}(P × T)

A = P + I

Where R = rate of interest, P = principal, I = interest
T = time and A = Amount
Calculation:
Let P = 100 than A = 300

I = 300 - 100 = 200

R = (200 × 100){/}(100 × 12.5)

⇒ R = 200{/}12.5

∴ Rate of interest is 16%

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