Simple interest on a sum for 10 years is equal to 5% of the principal. In how many years interest will be equal to the principal?

- a)100
- b)150
- c)200
- d)250

Correct answer is option 'C'. Can you explain this answer?

Related Test: SSC CHSL Mock Test -9

Engineers Adda
answered
4 weeks ago

Let the principle be Rs. P

Simple interest = (Principle × time × Rate)/100 = (P × 10 × rate)/100

Simple interest = (Principle × time × Rate)/100 = (P × 10 × rate)/100

According to question,

⇒ (P × 10 × Rate)/100 = 5% of P

⇒ Rate = 0.5%

⇒ (P × 10 × Rate)/100 = 5% of P

⇒ Rate = 0.5%

Now, let in t years the simple interest is equal to the principle

Simple interest = (P × 0.5 × t)/100

⇒ P = (P × t)/200

∴ t = 200 years

Simple interest = (P × 0.5 × t)/100

⇒ P = (P × t)/200

∴ t = 200 years

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