SSC CGL 3 Sep 2016 Paper

Question : 70 of 100

Marks: +1, -0

If a sum of money deposited in a bank at simple interest is doubled in 6 years, then after 12 years, the amount will be

Solution:

Principal = Rs. x
Interest = Rs. x
Time = 6 years
∴ Rate =

{\Interest × 100}/{\Principle × \Time}

{x×100}/{x×16}

{50}/3

% per annum
Case II,
Interest =

{x×12×50}/{100×3}

= Rs. 2x
i.e., Amount is thrice the principal.

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