Question

in what time does a sum becomes five times at the simple interest at rate of 5 percent per annum ​

Answer 1

Answer:

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

SI+P=6P

SI=5P

SI=

100

PRT

⇒5P=

100

P×5×T

⇒T=100

Given time is same, Amount =12P

SI=12P−P=11P

⇒

100

PRT

=11P

⇒R=

100

11×100

=11

Hence, the correct answer is 11%.