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A sum becomes 4 times at simple interest in 10 years. What is the rate of interest?
Answer & Solution
Correct Answer:
Option
C
$$\eqalign{
& {1^{{\text{st}}}}\,{\text{Method}}: \cr
& {\text{Let rate is }}R\% \cr
& {\text{Now}}, \cr
& P = 100, \cr
& A = 400, \cr
& I = 400 - 100 = 300, \cr
& {\text{Time}},\,T = 10\,{\text{years}} \cr
& I = \frac{{PTR}}{{100}} \cr
& {\text{Or}},R = \frac{{ {100 \times I} }}{{PT}} \cr
& {\text{Or}},R = \frac{{ {100 \times 300} }}{{ {100 \times 10} }} \cr
& {\text{Hence}},{\kern 1pt} R = 30\% \cr} $$
2nd Method :
Here, the sum become 4 times that means 100, become 400.
Rate of such question is given by
$$R = \frac{{{\text{interest}}}}{{{\text{time}}}} = \frac{{300}}{{10}} = 30\% $$
3rd Method :
Here, 300% of rise in the sum so
$$\eqalign{ & 100 - - - 300\% \uparrow - - - {\kern 1pt} 400; \cr & R = {\frac{{{\text{total}}\,{\text{percentage rise}}}}{{{\text{given time}}}}} \cr & \,\,\,\,\,\,\,\, = \frac{{300\% }}{{10}} \cr & \,\,\,\,\,\,\,\, = 30\% \cr} $$
2nd Method :
Here, the sum become 4 times that means 100, become 400.
Rate of such question is given by
$$R = \frac{{{\text{interest}}}}{{{\text{time}}}} = \frac{{300}}{{10}} = 30\% $$
3rd Method :
Here, 300% of rise in the sum so
$$\eqalign{ & 100 - - - 300\% \uparrow - - - {\kern 1pt} 400; \cr & R = {\frac{{{\text{total}}\,{\text{percentage rise}}}}{{{\text{given time}}}}} \cr & \,\,\,\,\,\,\,\, = \frac{{300\% }}{{10}} \cr & \,\,\,\,\,\,\,\, = 30\% \cr} $$
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