SSC MTS 2022 PYQ — Question 61

SSC MTS - 26 July 2022 - Shift 2 • Quantitative Aptitude • Q61

In what time does a sum of money amount to twice of itself at the simple interest of 25% per annum?

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. 4 years

Let the sum of money be P and, time be T years-

So,

Simple Interest = (P×R×T100)\left ( \frac{P\times R\times T}{100} \right )

Since, the amount of money doubles itself -

So, 

Simple Interest = P 

∴P=(P×R×T100)\therefore P=\left ( \frac{P\times R\times T}{100} \right )

P=(P×25×T100) P=\left ( \frac{P\times 25\times T}{100} \right )

T=4T=4

So, the amount of money will double itself in 4 years.