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  1. A certain sum becomes 8 fold in 15 yr at simple interest. What will be the rate interest ?
    1. 465/3%
    2. 462/3%
    3. 465/8%
    4. 4612/11%
Correct Option: B

Let sum = p
Then, after 15 yr
Sum = 8p

∴ SI = 8p - P = 7P
Now, 7P = (P x R x 15)/100
⇒ 7 = 15R/100 = 3R/20
∴ R = (20 x 7)/3 = 140/3
= 462/3%



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