Latest Miscellaneous Company Exam Aptitude Question SOLUTION: At what rate of annual simple interest,a certain sum will amount to four times in 15 year? (a)15% (b)17.5% (c)20% (d)25%

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Miscellaneous Company Exam Question Papers:

(#M40036089) MISCELLANEOUS COMPAN Numerical Ability question simple interest Keep an EYE

At what rate of annual simple interest,a certain sum will amount to four times in 15 year?

(a)15%
(b)17.5%
(c)20%
(d)25%

Asked In Miscellaneous Company Exam Janavi (10 years ago)

Unsolved Read Solution (3)

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Read Solution (3) :

Saraswathy  (10 years ago)

r=?
t=15 yrs

SI=p*r*t/100
Amount = SI+p = 4p
(p*r*15/100)+p = 4p
p(15r/100 + 1) = 4p
15r + 100 = 400
15r = 300
r = 20%

Ans : (c) 20%

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Kev McWhirter  (10 years ago)

Rule of 72 say if you take any interest rate and divide it into 72 it tells you how long before you money doubles. so 72/15%= 4.8 years so in 9.6 years your money is over 4 times its value. verify by using following equation:
Principle( 1+ rate/annualcompunding)^years:
10000(1+.15/1)^15= $81370 this is more than 4 times $10,000

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Ankur Tripathi  (7 years ago)

Ans-c 20%
(P*r*15)/100+p=4p
P(3r+20)=80p
R=20%

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