Question
In what duration will a sum of money double itself at 10% per annum rate of simple interest?
This question was previously asked in
RRB NTPC 2024 Undergraduate CBT 1 Question Paper (29-Aug-2025) (Shift 1)
The correct answer is
10 years
The correct answer is Option 3 i.e. 10 years.
SI = (P × R × T)/100
here, SI = Simple Interest, P = Principal, R = Rate, and T = Time
⇒ SI = 2P - P
⇒ SI = P
So,
⇒ P = (P × 10 × T)/100
⇒ 1 = (10 × T)/100
⇒ T = 10 years
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