Question 64

In how many years, a sum will be thrice of it at the rate of interest 5% per annum?

Solution

Rate $$= 5\% per annum$$

Let P be the sum

SI $$=3P-P=2P$$

Now, $$2P=\frac{PRT}{100}$$

$$T=\frac{200}{5}=40$$ years

Option B is correct.

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