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Download Solution PDFThis question was previously asked in
SSC GD 25 Nov 2021 Shift 2 (Official Paper)
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- 6 years 2 months
- 8 years 1 month
- 6 years 4 months
- 8 years 4 months
Answer (Detailed Solution Below)
Option 4 : 8 years 4 months
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PYST 1: SSC GD कांस्टेबल - हिंदी (16 नवंबर 2021 Shift 1 को आयोजित)
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Detailed Solution
Download Solution PDFGiven:
Rate of interest = 12%
Concept used:
1 years = 12 months
Simple Interest, SI = (P × R × T)/100
Amount = P + SI
where, P = Principal, R = Rate of interest, T = time in years
Calculation:
Let the principal amount and time be P and T respectively.
According to the question,
P + (P × 12 × T)/100 = 2× P
⇒(P × 12 × T)/100 = P
⇒12T/100 = 1
⇒ T = 25/3
Now, 25/3 years = 25/3×12
⇒ 25× 4 months
⇒ 100 months
⇒8 years 4 months
∴ It will take 8 years and 4 months.
![[Solved] In how much time will a sum of money double itself at 12% p. (2)](https://i0.wp.com/cdn.testbook.com/resources/lms_creative_elements/shortcut-trick-image.png "[Solved] In how much time will a sum of money double itself at 12% p. (2)")
Let the principal be Rs. 'a'
According to the question,
The sum becomes double itself,
⇒Amount = 2a
⇒Simple interest = 2a - a = a
Also, SI = PRT/100
⇒a = a× 12× T/100
⇒T = 100/12
⇒T =\(8 \frac{1}{3}\)
⇒T = 8 years 4 months.
Hence, the correct answer is 8 years and 4 months.
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Q2. A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetchedRs.420 more. Find the sum.
Q3. What will be the simple interest on a principal of Rs. 2250 for 5 years at the rate of 6 percent per annum?
Q4. If the simple interest on a certain sum of money at 6% per annum for 8 years is Rs. 4041.60, then the sum is:
Q5. If a bank pays 20% dividend, what rate per cent would a person get by purchasing a share of Rs. 100 for Rs. 150?
Q6. What will be the amount of principal and interest if Rs.860 is invested for 2 years @2paise per rupee per month?
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Q9. The simple interest on Rs. 400 for 5 years at 6% per annum is
Q10. A certain principal amounts to Rs. 500 in 3 years and Rs. 540 in 5 years. Find the rate of interest per annum.
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Q4. A sum of money amounts to ₹ 4,460 after 3 years and to ₹ 6,690 after 6 years on compound interest. Find the approximate sum.
Q5. What is the difference between Compound interest and Simple Interest on Rs 2000 for one year at 10% p.a If the interest is calculated half-yearly?
Q6. What will be the simple interest on a principal of Rs. 2250 for 5 years at the rate of 6 percent per annum?
Q7. If the simple interest on a certain sum of money at 6% per annum for 8 years is Rs. 4041.60, then the sum is:
Q8. If a bank pays 20% dividend, what rate per cent would a person get by purchasing a share of Rs. 100 for Rs. 150?
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