SSC CGL Model Paper 13

Question : 64 of 100

Marks: +1, -0

If a sum of money deposited in a bank at simple interest is doubled in 4 years. Then, after 16 years the amount will be.

Solution:

Principle = P
Amount in 4 years = 2P ; so, SI = 2P - P = P

∴\P={\P×\R×4}/100

R = 25%
Now, After 16 years,

\SI={\P×25×16}/100⇒\SI=4\P

Final Amount after 16 years = P + SI = P + 4P = 5P
∴ Amount will becomes 5 times.

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