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CUET PG MCA Interest PYQ


CUET PG MCA PYQ 2023
A sum of money doubles itself on simple interest in 10 years. Find the rate of interest per annum.





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CUET PG MCA Previous Year PYQCUET PG MCA CUET 2023 PYQ

Solution

Let the principal be P.

Since the money doubles in 10 years, the total amount becomes 2P.
So, Simple Interest (SI) = 2PP=P

Use the formula:
SI=PRT100 Substituting values: P=PR10100 Cancel P on both sides: 1=R10100R=10010=10%
Final Answer:
10% per annum


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