At what percent of simple interest will a sum | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) Let the principal amount be $P$.Since the sum doubles itself,the final amount $A = 2P$.Therefore,the Simple Interest $(S.I.)$ is $A - P = 2P - P =

Vedclass · Accepted Answer

$6 \frac{2}{3} \%$

Vedclass · Answer

(B) Let the principal amount be $P$.Since the sum doubles itself,the final amount $A = 2P$.Therefore,the Simple Interest $(S.I.)$ is $A - P = 2P - P = P$.We know the formula for Simple Interest is $S.I. = \frac{P 	imes R 	imes T}{100}$,where $R$ is the rate of interest and $T$ is the time in years.Substituting the values: $P = \frac{P 	imes R 	imes 15}{100}$.Dividing both sides by $P$,we get $1 = \frac{15R}{100}$.$R = \frac{100}{15} = \frac{20}{3} = 6 \frac{2}{3} \%$.Thus,the rate of interest is $6 \frac{2}{3} \%$.

At what percent of simple interest will a sum of money double itself in $15$ years?

Similar Questions

What will be the ratio of simple interest earned by a certain amount at the same rate of interest for $6$ years and that of $9$ years?

What is the $S.I.$ on $Rs. 800$ at $5 \%$ per annum for $3$ years?

Asmita invests an amount of $Rs. 9535$ at the rate of $4\%$ per annum to obtain a total amount of $Rs. 11442$ on simple interest after a certain period. For how many years did she invest the amount to obtain the total sum?

The effective annual rate of interest (in $\%$) corresponding to a nominal rate of $13 \%$ per annum payable half-yearly is:

$A$ man buys a watch for ₹ $1950$ in cash and sells it for ₹ $2200$ at a credit of $1$ $year$. If the rate of interest is $10 \%$ $p.a.$,what is his profit or loss?

Vedclass Test Series

Exam Paper Generator

Online Exam Module