Question 40

In how many years will an amount be doubled at 28.75% annual rate of interest?

Solution

Let P be the sum which gets doubled in T years

Simple Interest = 2P-P=P

$$Simple Interest =\frac{Principal \times Rate\times Year}{100}$$

$$P=\frac{2P \times R \times T}{100}$$

$$P=\frac{2P \times 28.75 \times T}{100}$$

$$T=\frac{100}{28.75}$$

$$T=3.47 years$$

Option C is correct.

Create a FREE account and get:

Download RRB Study Material PDF
45+ RRB previous papers with solutions PDF
300+ Online RRB Tests for Free

CAT Quant Questions | CAT Quantitative Ability

CAT Time Speed Distance Questions CAT Averages Questions CAT Time, Distance and Work Questions CAT Data Sufficiency Questions CAT Linear Equations Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Puzzles Questions CAT Miscellaneous LR Questions CAT DI with connected data sets Questions CAT DI Miscellaneous Questions CAT Data change over a period Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Para Jumbles Questions CAT Para Summary Questions CAT Grammar and Sentence Correction Questions CAT Miscellaneous Questions CAT Critical Reasoning Questions

Follow us on

Boost your Prep!

Download App