Latest self Aptitude Question SOLUTION: A bank gives an investor double the initial deposit in 5years, interest being simple interest. Then the rate of Interest is:

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A bank gives an investor double the initial deposit in 5years, interest being simple interest. Then the rate of Interest is:

Arjun (11 years ago)

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PARAG KAMRA  (11 years ago)

simple formula
rate=100(count of(p)-1)/time
for ex in bank gives an investor double the initial deposit in 5years
rate=(100(2-1))/5=20%(ans)
A bank gives an investor double the initial deposit in 5years, interest being simple interest. Then the rate of Interest is:20%(ans)

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jomon v j  (11 years ago)

20%

in five years interest equal to principal amount

suppose 100 Rs. invested .then interest is 100 for five years .therefore interest for one year is 20 Rs. interest is 20%

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URPIT KUMAR PATEL  (11 years ago)

ans IS 20% becoz simple if you got 200% amount in 5 years ,
so
for ex. invest 10 rs after 5 years your interest 10 rs (0.2*5/100) and amount you receive 20 rs

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jagannathan  (11 years ago)

SI=PRT/100
FOR P TO BE DOUBLED INTEREST SHOULD BECOME P.. HENCE SI=P*20*5/100

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