Exams › SSC CGL (Prelims) › General
A sum becomes 2.5 times in 10 years under simple interest. Find the rate.
- 10%
- 12.5%
- 15%
- 20%
Correct answer: 15%
Solution
If the sum becomes 2.5 times, the amount is 2.5P, so the simple interest is 1.5P. Using SI = PRT/100, we get 1.5P = P × R × 10 / 100, which gives R = 15%.
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