Question 57

The time required for a sum of money to become 31 times of itself at 15% Simple Interest per annum is?

Solution

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Let the principal be Rs.P
Let the time period be x years
Then, After x years, P will become Rs.31P
⇒ Interest = 31P - P = Rs.30P
⇒ $$\dfrac{P \times 15 \times x}{100} = 30P$$
⇒ x = 200
Hence, After 200 years, the sum of money will become 31 times of itself.

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