Mathematical Aptitude - Interest
9. An amount doubles itself in 15 years, what is the rate of interest?
- Option : C
- Explanation : Let the principle be P.
As the amount doubles itself the interest is P too.
So P = P × r × 15/100
⇒ r = 100/15 = 20/3% = 6.66%
- Option : D
- Explanation : 2500 in 5th year and 3000 in 7th year.
So in between 2 years, Rs 500 has increased.
⇒ For a year 500/2 = 250
So, per year it is increasing Rs 250, then in 5 years
⇒ 250 × 5 = 1250
Hence, the initial amount must be 2500 – 1250
= Rs 1250.
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