Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
72 views
in Aptitude by (115k points)
closed by

In how many years will the simple interest on a sum of money be equal to the principal at the rate of \(3 \frac 1 3\)% per annum ?


1. 30 years 
2. 33 years 
3. 28 years 
4. 25 years

1 Answer

0 votes
by (114k points)
selected by
 
Best answer
Correct Answer - Option 1 : 30 years 

Given:

SI = P

R = \(3 \frac 1 3\)% = 10/3%

Formula:

SI = (P × R × T)/100

Calculations:

⇒ Let Principal amount be Rs. 100.

⇒ Simple Interest be Rs. 100.

⇒ Rate = \(3 \frac 1 3\) ​= 10/3​

⇒ Simple Interest = P × R × T/100​

⇒ 100 = (100 × 10/3 ​× T)/100 ​

⇒ T = 10 × 3

⇒ T = 30 years

∴ Required time period is 30 years

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...