UP Police Constable Exam Model Paper 3

Given:
Rate of interest(r) = $16\frac{2}{3}\%$ = 50/3 %
Time = T
Concept:
SI = (P × r × T)/100
Where,
P = Principal
r = rate of interest
T = time period
Calculation:
Let, the sum of money (P) be Rs. x
SI = (3x ─ x) = 2x
According to the questions,
⇒ 2x = (x × 50 × T)/300
⇒ (2x × 300)/(50 × x) = T
⇒ T = 12 years
∴ The required time is 12 years.