Consider the following statements If a sum of money is lent at simple…

Question

Consider the following statements
If a sum of money is lent at simple interest, then the
I - money gets doubled in 5 years if the rate of interest is

16 \frac{2}{3}

%
II - money gets doubled in 5 years if the rate of interest is 20%.
III - money becomes four times in 10 years if it gets doubled in 5 years.

Accepted Answer

Option B. II alone is correct. Answer & Solution Answer: Option B Solution: & Let sum be x . & Then, & S .I . = x & I - Time & = 100 × xx × 503 & = 6\, years(false) & II - Time & = 100 × xx × 20 & = 5\, years(True) & III - Suppose sum = x. & Then, S .I . = x & Time = 5 years . & Rate = ( 100 × xx × 5 )\% & \,…

Consider the following statements If a sum of money is lent at simple interest, then the I - money gets doubled in 5 years if the rate of interest is 162/3 % II - money gets doubled in 5 years if the rate of interest is 20%. III - money becomes four times in 10 years if it gets doubled in 5 years.

Solution