A certain sum of money become 25 times of itself in a span of 50 years

1.	A certain sum of money become 25 times of itself in a span of 50 years on simple interest. Calculate the rate of interest.1. 45%2. 28%3. 32%4. 50%5. 48%
Answer» Correct Answer - Option 5 : 48% Given: A certain sum of money becomes 25 times of itself in a span of 50 years on simple interest. Formula: r = (100 × SI)/(P × t) SI = A – P Where, SI → Simple interest A → Amount P → Principal r → rate t → time Calculation: Let the sum of money be P Amount becomes 25 times = 25P SI = 25P – P ⇒ 24P r = (100 × 24P)/(P × 50) ⇒ 2400P/50P ⇒ 2400/50 ⇒ 48 ∴ The rate of interest is 48%

A certain sum of money become 25 times of itself in a span of 50 years on simple interest. Calculate the rate of interest.1. 45%2. 28%3. 32%4. 50%5. 48%

Answer» Correct Answer - Option 5 : 48%

Given:

A certain sum of money becomes 25 times of itself in a span of 50 years on simple interest.

Formula:

r = (100 × SI)/(P × t)

SI = A – P

Where,

SI → Simple interest

A → Amount

P → Principal

r → rate

t → time

Calculation:

Let the sum of money be P

Amount becomes 25 times = 25P

SI = 25P – P

⇒ 24P

r = (100 × 24P)/(P × 50)

⇒ 2400P/50P

⇒ 2400/50

⇒ 48

∴ The rate of interest is 48%

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A certain sum of money become 25 times of itself in a span of 50 years on simple interest. Calculate the rate of interest.1. 45%2. 28%3. 32%4. 50%5. 48%

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