SSC CHSL 2025 · PYQ · Simple Interest · medium
A sum of money doubles itself in 8 years at a certain rate of simple interest. In how many years will it become five times itself at the same rate?
Answer
The correct answer is B: 32 years. Doubles in 8 years means SI = P in 8 years, so rate = 100/8 = 12.5% p.a. For 5 times, SI needed = 4P.
- A.40 years
- B.32 years✓ Correct
- C.24 years
- D.16 years
Doubles in 8 years means SI = P in 8 years, so rate = 100/8 = 12.5% p.a. For 5 times, SI needed = 4P. Time = 4P/(P×12.5/100) = 400/12.5 = 32 years.
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