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

    Question

    At a simple interest rate of ‘r%’ per annum, an amount

    becomes 5 times its original value in 16 years. What is the value of ‘r’?
    A 22 Correct Answer Incorrect Answer
    B 16 Correct Answer Incorrect Answer
    C 19 Correct Answer Incorrect Answer
    D 25 Correct Answer Incorrect Answer

    Solution


    ATQ,

    Let the principal amount be Rs. ‘P’

    ATQ;

    5P – P = (P × r × 16) ÷ 100

    Or, 400 = 16 × r

    So, r = 25

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