CUET PG MCA Interest Previous Year Question Paper and Solution with PDF

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Qus : 1

A sum of money doubles itself on simple interest in 10 years. Find the rate of interest per annum.

1
2
3
4
Go to Discussion

Since the money doubles in 10 years, the total amount becomes

$2P$ .
So, Simple Interest (SI) =

$2P - P = P$

Use the formula:

$\text{SI} = \frac{P \cdot R \cdot T}{100}$ Substituting values:

$P = \frac{P \cdot R \cdot 10}{100}$ Cancel

$P$ on both sides:

$1 = \frac{R \cdot 10}{100} \Rightarrow R = \frac{100}{10} = \boxed{10\%}$
Final Answer:

$\boxed{10\% \text{ per annum}}$

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