A sum of money at simple interest triples itself in 25 years it will become 7 times of itself in

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At certain rate of simple interest a sum becomes triple in 25 years. In how many years will it become six times of itself?a)61 years 5 monthsb)63 years 7 monthsc)62 years 6 monthsd)68 years 9 monthsCorrect answer is option 'C'. Can you explain this answer? for Railways 2022 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about At certain rate of simple interest a sum becomes triple in 25 years. In how many years will it become six times of itself?a)61 years 5 monthsb)63 years 7 monthsc)62 years 6 monthsd)68 years 9 monthsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2022 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At certain rate of simple interest a sum becomes triple in 25 years. In how many years will it become six times of itself?a)61 years 5 monthsb)63 years 7 monthsc)62 years 6 monthsd)68 years 9 monthsCorrect answer is option 'C'. Can you explain this answer?.

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A sum invested on simple interest becomes triple itself in 16 years. Then the rate of interest is?

Answer

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Hint: We will assume the sum invested as x rupees. We have been given that it becomes triple after 3 years which means it becomes 3 x. Now, we know that the final amount = principal amount + simple interest. So, we will find the simple interest from that and using the formula, $\text{simple interest}=\dfrac{\text{principal amount}\times \text{time}\times \text{rate}}{100}$, we will find the rate of interest.

Complete step-by-step answer:
We are given the time period as 16 years and that the sum becomes triple after 16 years. So, we will first assume the sum invested as Rs. x. We have been given that after 16 years, it becomes triple, so,
Final amount = $3\times x=3x$.
Now, we know that the final amount is the summation of the principal amount and simple interest,
Final amount = principal amount + simple interest, which can be written as,
3 x = x + simple interest, so we get the simple interest as = 3 x - x = 2 x.
Now, we have the principal amount, time and the simple interest, so we will find the rate using the formula, $\text{simple interest}=\dfrac{\text{principal amount}\times \text{time}\times \text{rate}}{100}$. So, by substituting the values of the parameters we get,
$\begin{align}
  & \dfrac{2x}{1}=\dfrac{x\times 16\times rate}{100} \\
 & \Rightarrow \dfrac{2}{1}=\dfrac{16\times rate}{100} \\
\end{align}$
On cross-multiplying, we get,
$\begin{align}
  & rate=\dfrac{2\times 100}{16} \\
 & \Rightarrow rate=12.5\% \\
\end{align}$
Hence, we get the rate of interest as 12.5 %.

Note: There is a possibility that the students think that the simple interest becomes triple of the principal amount, that is simple interest is 3 x. So, in further calculations for finding the rate of interest, they will end up with, $rate=\dfrac{3\times 100}{16}\Rightarrow 18.75\%$. But students should read the question carefully to understand that the sum becomes triple, which means the principal amount becomes triple after 16 years.

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