Question

A sum of money becomes six times
at the simple interest rate of 5% per
annum. At what rate per cent will it
become twelve fold? [The time period
is unaltered.]​

Answer 1

Verified answer ✔️

Given :

Amount =6P , R=5% Time =T

SI+P=6P

SI=5P

$si = \frac{PRT }{100}$

$5P = \frac{P \times 5 \times t}{100}$

T = 100

Given time is same, Amount =12P

SI=12P−P=11P

$\frac{PRT }{100} = 11p \\ \\ r = \frac{11 \times 100}{100} = 11$

Hence, the correct answer is 11%.

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