Solution:
Let the principal amount = Rs. 100
∴ Amount(A) = 100 x 2 = Rs. 200
∴ SI = A - P = 200 - 100 = Rs. 100
Rate (R) = 8% p.a
∴ TIme = \frac{SI\times100}{P\times R}=\frac{100\times100}{100\times8}=\frac{25}{2}=12\frac{1}{2}years
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Solution
Let sum of money be P=100
Interest per annum =10%
amount = 2× 100 = 200
simple interest = 200 - 100 = 100
Since,
SI=PTR100
⇒T=100×SIPR
=100×100100×10
∴t=10 years.
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In how many years will a sum of money double itself at 10% per annum simple interest?
- 4 years
- 8 years
- 10 years
- 6 years
Answer (Detailed Solution Below)
Option 3 : 10 years
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Bihar Police Fireman Full Mock Test 2021
100 Questions 100 Marks 120 Mins
Given:
the sum of money doubles itself.
Rate = 10%
Concept used:
S.I. = PRT/100
Amount = P + SI
Calculation:
Amount = 2P = P + P
Let the Principal be 100, then Simple Interest = 100
⇒ 100 = (100 × 10 × T)/100
⇒ T = 10 years
∴ Time taken is 10 years.
Latest Bihar Police Fireman Updates
Last updated on Sep 26, 2022
Bihar Police Fire Admit Card released for the Physical Efficiency Test. The Central Selection Board of Constables (CSBC) will conduct the PET on 8th November 2022. Earlier, the Bihar Police Fireman Result for the written examination was released on 5th September 2022. Candidates who had qualified the same are only eligible for the PET. The candidates shortlisted for the post of Bihar Police Fireman will get a salary range between Rs. 21,700 to Rs. 69,100.
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