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An amount becomes twice in 15 years. Find the rate%1. 20/3 %2. 17/5 %3. 16/3 %4. 22/7 % |
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Answer» Correct Answer - Option 1 : 20/3 % Given: An amount becomes twice in 15 years Formula used: S.I = PRT/100 Where, P = Principal R = Rate of interest T = Time period Calculation: Let the principal be P Amount after 15 years = 2P SI = (2P – P) ⇒ P Now, according to the question (P × R × 15)/100 = P ⇒ 15R/100 = 1 ⇒ R = 20/3% ∴ The rate of interest is 20/3% |
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