A sum of money becomes $6$ times of itself in $8$ years. Find the rate of Simple Interest.

50 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

60 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

100 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

125 %

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D 125 %
Given, time $= 8$ years.
Let the sum invested be $R s . 100$ .
So, the Amount received after $8$ years $= R s . 600$

We know that,
Principal $+$ Interest $=$ Amount.
Hence, Interest $=$ Amount $-$ Principal $= R s . (600 - 100) = R s . 500.$

The Simple Interest earned on a sum of $P$ for a period of $T$ years at the rate of $R %$ p.a
S.I is given by $\frac{P \times R \times T}{100}$ .

So, $500 = \frac{100 \times R \times 8}{100}$
Hence, $R = 62.5 % .$

Suggest Corrections

Similar questions

Q. A sum of money becomes

\frac{7}{6}

of itself in

3

years at a certain rate of simple interest. In how many years will the sum become

3

times of itself at the same rate.

Q. A sum of money becomes 7/4 of itself in 6 years a certain rate a simple interest. Find the rate of interest.

A sum of money, lent out at simple interest, doubles itself in 8 years. Find:
(i) the rate of interest
(ii) in how many years will the sum become triple (three times) of itself at the same rate per cent?

Q. A sum of money, lent out at simple interest, doubles itself in

8

years. Find in how many years will the sum become triple (three times) of itself at the same rate per cent ?

Q. Q. Thomas invested a sum of money at simple interest which triples itself in 8 years. In how many years will it become 8 times itself at the same rate?

Join BYJU'S Learning Program

A sum of money becomes 6 times of itself in 8 years. Find the rate of Simple Interest.

A sum of money becomes $6$ times of itself in $8$ years. Find the rate of Simple Interest.