Railways PYQCBT 1 2016

RRB NTPC · Question 50

A sum of money becomes triple of itself in 10 years at the rate of simple interest, find the annual rate of interest. A. 5% B. 8% C. 10% D. 20%

  1. D

  2. B

  3. C

  4. A

Show answer & explanation

Answer: (A) D

Explanation

Tripling means interest = 2P in 10 years, i.e. 200% in 10 years or 20% per annum.