Multiple choice

How many times will the sum gets multiplied in 10 years at 20% per annum rate of interest?

  1. 2 times

  2. 3 times

  3. 4 times

  4. 5 times
Reveal answer Fill a bubble to check yourself
B Correct answer
AI explanation

Using the Simple Interest formula, the total amount after 10 years is the principal plus the interest, calculated as Principal times 1 plus Rate times Time divided by 100. Substituting the values gives Principal times 1 plus 20 times 10 divided by 100, which simplifies to Principal times 3. Therefore, the sum gets multiplied 3 times.

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