Quick Method for solving Simple Interest Questions - Type 2

Ashish

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Staff member
#1
1. If a sum of money at simple interest doubles in 12 years, the rate of interest per annum is:
a) 16 2/3%
b) 7.5%
c) 8 1/3%
d) 10%



Answer: c

2. An amount of money invested on simple interest becomes 5 times of itself in 16 years. What is the rate of interest per annum?
a) 15%
b) 20%
c) 25%
d) 30%



Answer: c