Question 85
A certain sum of money triples itself in 5 years at simple interest. In how many years it will be five times?
Solution
let principle = P
simple interest = I
time = T yrs
rate of interest = R.
$$I=\frac{PTR}{100}$$
A certain sum of money triples itself in 5 years at simple interest
$$\Rightarrow I = 2P$$
$$\Rightarrow 2P = \frac{P*5*R}{100}$$
$$\Rightarrow R = 40$$%
In how many years it will be five times
$$\Rightarrow I = 4P$$
$$\Rightarrow 4P = \frac{P*40*T}{100}$$
$$T=10yrs$$
so the answer is option C.
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