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.

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: