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A certain sum becomes 8 fold in 15 yr at simple interest. What will be the rate of interest?

A) \( \Large 46\frac{5}{3}% \)
B) \( \Large 46\frac{2}{3} %\)
C) \( \Large 46\frac{5}{8} %\)
D) \( \Large 46\frac{11}{12}% \)

Correct Answer:


B) \( \Large 46\frac{2}{3} %\)

Description for Correct answer:

Let sum = p

Then, after 15 yr,

Sum = 8P

SI = 8P-P = 7P

Now, 7P = \( \Large \frac{P\times R\times 15}{100} \)

=> 7 = \( \Large \frac{15R}{100} = \frac{3R}{20} \)

R = \( \Large \frac{20\times 7}{3} \)

= \( \Large \frac{140}{3} \) = \( \Large 46\frac{2}{3}% \)

Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest

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