Home
Class 14
MATHS
Consider the following statements. If a ...

Consider the following statements. If a money is loaned at simple interest then the
money gets doubled in 5 years if the rate of interest is `16(2)/3%`
money gets doubled in 5 years if the rate of interest is `20%`
money becomes four times in 10 years if it gets doubled in 5 years of these statements :.

A

a)(ii) and (iii) are correct

B

b)(iii) alone is correct

C

c)(ii) alone is correct

D

d)(ii) and (iii) are correct

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to analyze each of the three statements regarding simple interest and determine their validity. ### Step-by-Step Solution: 1. **Understanding Simple Interest**: Simple Interest (SI) is calculated using the formula: \[ SI = \frac{P \times R \times T}{100} \] where \( P \) is the principal amount, \( R \) is the rate of interest per annum, and \( T \) is the time in years. 2. **Analyzing the First Statement**: - Statement: "Money gets doubled in 5 years if the rate of interest is \( 16\frac{2}{3}\% \)". - If the principal amount \( P = 100 \), then the amount after 5 years should be \( 200 \). - The simple interest earned in this case is: \[ SI = 200 - 100 = 100 \] - Using the SI formula: \[ 100 = \frac{100 \times R \times 5}{100} \] Simplifying gives: \[ R \times 5 = 100 \implies R = 20\% \] - Since \( 16\frac{2}{3}\% \) is equal to \( 16.67\% \) which is less than \( 20\% \), this statement is **incorrect**. 3. **Analyzing the Second Statement**: - Statement: "Money gets doubled in 5 years if the rate of interest is \( 20\% \)". - Using the same principal amount \( P = 100 \): - The simple interest earned in 5 years at \( 20\% \) is: \[ SI = \frac{100 \times 20 \times 5}{100} = 100 \] - Therefore, the total amount after 5 years is: \[ 100 + 100 = 200 \] - This statement is **correct**. 4. **Analyzing the Third Statement**: - Statement: "Money becomes four times in 10 years if it gets doubled in 5 years". - If the money doubles in 5 years, then after another 5 years (total 10 years), it will again earn the same interest of \( 100 \) (as calculated before). - Therefore, the total amount after 10 years is: \[ 200 + 100 = 300 \] - Thus, the money does not become four times (which would be \( 400 \)), this statement is **incorrect**. ### Conclusion: - The first statement is incorrect. - The second statement is correct. - The third statement is incorrect. Thus, the only correct statement is the second one.
Promotional Banner

Topper's Solved these Questions

  • AVERAGES

    QUANTUM CAT|Exercise QUESTION BANK|171 Videos
  • CO-ORDINATE GEOMETRY

    QUANTUM CAT|Exercise QUESTION BANK|72 Videos

Similar Questions

Explore conceptually related problems

Consider the following statements If a sum of money is lent at simple interest, then the money gets doubled in 5 years if the rate of interest is 16 2/3% money gets doubled in 5 years if the rate of interest is 20% money becomes four times in 10 years if it gets doubled in 5 years. Of these statements, (a) 1 and 3 are correct (b) 2 alone is correct (c) 3 alone is correct (d) 2 and 3 are correct

A sum of money doubles itself in 8 years.What is the rate of interest?

Find the rate of Simple interest by which a given money is doubled in 15 years

A sum of money lent at simple interest amounts to Rs 3224 in 2 years and Rs 4160 in 5 years.Find sum and the rate of interest.

If a sum of money at simple interest doubles in 12 years, the rate of interest per annum is

A certain sum of money will be doubled in 15 years at the rate of simple interest percent per annum of

QUANTUM CAT-CI/ SI/ INSTALMENTS-QUESTION BANK
  1. A person takes a loan of ₹ 200 at 5% simple interest. He returns ₹ 100...

    Text Solution

    |

  2. A lends a sum of money for 10 years at 5% SI. B lends double the amoun...

    Text Solution

    |

  3. Consider the following statements. If a money is loaned at simple inte...

    Text Solution

    |

  4. Pratibha invests an amount of ₹ 15,860 in the names of her three daugh...

    Text Solution

    |

  5. What annual payment will discharge a debt of Rs. 580 in 5 years, the r...

    Text Solution

    |

  6. Find the amount of Rs. 2500 invested at 12% during the period from 4^(...

    Text Solution

    |

  7. Find the amount of Rs. 1700 invested at 16% half yearly at simple inte...

    Text Solution

    |

  8. The compound interest on Rs. 1000 at 10% p.a. in 3 years :

    Text Solution

    |

  9. The compound interest on Rs. 10000 at 20% p.a. in 4 years :

    Text Solution

    |

  10. The compound interest on Rs. 4000 at 25% p.a. in 3 years :

    Text Solution

    |

  11. The compound' interest on ₹ 5000 at 30%. per annum for 4 years:

    Text Solution

    |

  12. A sum of Rs 400 would become Rs. 441 after 2 years at r% compound inte...

    Text Solution

    |

  13. At compound interest , if a certain sum of money doubles in n years , ...

    Text Solution

    |

  14. Rs. 6000 amounts to Rs . 7986 in 3 years at Cl. The rate of interest i...

    Text Solution

    |

  15. The least number of complete years in which, a sum of money put at 20%...

    Text Solution

    |

  16. The Cl on Rs. 5000 for 3 years at 8% for first year, 10% for second ye...

    Text Solution

    |

  17. A sum of Rs. 2400 deposited at Cl, doubled after 5 years. After 20 yea...

    Text Solution

    |

  18. A sum of ₹ 550 was taken as a loan. This is to be paid back in two equ...

    Text Solution

    |

  19. The difference between CI and SI on a sum of money lent for 2 years at...

    Text Solution

    |

  20. The difference between simple and compound interest on Rs. 6000 for 1 ...

    Text Solution

    |