In a particular time, a sum becomes 6 times of itself on simple interest at the rate of 10% per annum. What is the rate of interest if the same sum becomes 16 times of itself in the same duration?
Answer & explanation
Correct answer: option 3
Principal : Amount : S.I. ⇒ Rate
6 times ⇒ 1 : 6 : 5 ⇒ 10%
⇓ ×3 ⇓ ×3
16 times ⇒ 1 : 16 : 15 ⇒ 30%