Question 63

A sum becomes 14 times of itself in 15 years at the rate of simple interest per annum. In how many years will the sum becomes 92 times of itself?

Solution

Let principal sum = Rs. $$x$$ and rate of interest = $$r\%$$

If sum becomes 14 times itself, => Simple interest = Rs. $$13x$$

S.I. = $$\frac{P\times r\times t}{100}$$

=> $$\frac{x\times r\times 15}{100}=13x$$

=> $$r=\frac{1300}{15}\%$$

Let after $$t$$ years, simple interest = Rs. $$91x$$

=> $$\frac{x\times1300\times t}{100\times15}=91x$$

=> $$t=7\times15=105$$ years

=> Ans - (C)

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