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Find the rate of interest if a sum of money becomes 9 times in 25 years at simple interest.
1. 16%
2. 15%
3. 25%
4. 32%

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Correct Answer - Option 4 : 32%

Given

Amount = 9 principal

Time = 25 years

Formula used

If a sum of money becomes x times in t years at simple interest, then formula for calculating rate of interest is as follows:

Rate = [100(x - 1)/t]%

Calculation

Time = 25

x = 9 times

R = [100(9 - 1)/25]%

⇒ R = (100 × 8/25)%

⇒ R = 32%

∴ Rate of interest is 32%

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