Question

In how many years will the simple interest on a sum of money be equal to the principal at the rate of $16\frac{2}{3}$% per annum ?

• A. $4$
• B. $5$
• C. $6$
• D. $8$

Answer 1

The correct option is C $6$

$\Rightarrow$ Let Principal amount be $Rs.100$.

$\Rightarrow$ Simple Interest be $Rs.100$.

$\Rightarrow$ Rate = $16\frac{2}{3}=\frac{50}{3}$

$\Rightarrow$ $SimpleInterest=\frac{P\times R\times T}{100}$

$\Rightarrow$ $100=100\times \frac{50}{3}\times \frac{T}{100}$

$\Rightarrow$ $T=\frac{300}{50}$

$\Rightarrow$ $T=6$