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Railways PYQCBT 1 2016

RRB NTPC · Question 62

A sum of money (P) doubles in 10 years. How much would it be in 20 years at the same rate of simple interest?

  1. P

  2. 2P

  3. 3P

  4. 4P

Show answer & explanation

Answer: (C) 3P

Explanation

Doubling in 10 years means the simple interest in 10 years equals P. In 20 years the interest is 2P, so the amount = P + 2P = 3P.