New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The time required for a sum of money to amount to five

    times itself at 16% simple interest p.a. will be
    A 25 years Correct Answer Incorrect Answer
    B 20 years Correct Answer Incorrect Answer
    C 15 years Correct Answer Incorrect Answer
    D 18 years Correct Answer Incorrect Answer

    Solution

    Let Principal = Rs. 100 then Amount = Rs. 500 then Simple Interest = 500-100=400  & we know that , Simple Interest = (P ×R ×T)/100 So 400 = (100 ×16 ×T)/100 T = 400/16 = 25 years.

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