In a certain duration of time, a sum become 2 times itself at the rate of 5% per annum simple interest. What will be the rate of interest if the same sum becomes 5 times itself in the same duration?
Answer & explanation
Correct answer: option 1
Let Principal (P) = 1R
ATQ,
Principal : Amount : S.I : Rate
i) Double: 1 : 2 : 1 : 5%
⇓×4 ⇓×4
ii) 5 times: 1 : 5 : 4 : 20%