A sum of money at simple interest triples itself in 15 years it will become 5 times of itself in

A sum of money triples itself in \[15\] years \[6\] months. In how many years would it double itself?A. \[6\] years \[3\] monthsB. \[7\] years \[9\] monthsC. \[8\] years \[3\] monthsD. \[9\] years \[6\] months

Answer

Hint: To solve this question, we need to apply the basic formula of simple interest which is \[S.I. = \dfrac{{PTR}}{{100}}\] . In the question, we are given the time, so first we calculate the rate using principal amount and simple interest and then use this calculated rate to solve time for the second part.

Complete step-by-step answer:
In the question, it is given that a sum of money triples itself in \[15\] years \[6\] months
Therefore, let the sum be \[x\] then, simple interest \[S.I.\] will be \[2x\] .
Time required to triple the money is given as \[15\] years \[6\] months \[ = 15\dfrac{1}{2} = \dfrac{{31}}{2}\] years
Now, Simple Interest \[S.I. = \dfrac{{PTR}}{{100}}\]
Putting the values in above formula of simple interest, we get
\[2x = \dfrac{{x.\dfrac{{31}}{2}.R}}{{100}}\]
Or, \[R = \dfrac{{400}}{{31}}\% \]
Now, to calculate in how many years it becomes double,
So, it will now give \[x\] interest on the sum of \[x\] .
So, sum be \[x\] then, simple interest \[S.I.\] will be \[x\] .
Now, Simple Interest \[S.I. = \dfrac{{PTR}}{{100}}\]
Putting the values in above formula of simple interest, we get
\[x = \dfrac{{x.T.\dfrac{{400}}{{31}}}}{{100}}\]
Or, \[T = \dfrac{{31}}{4}\]
\[T = 7\dfrac{3}{4}\] years
Or, the time it takes to double is \[7\] years \[9\] months.

So, the correct answer is “Option B”.

Note: Remember the formula of simple interest. Simple interest is calculated by multiplying the interest rate by the principal amount and the time period which is generally in years. The \[S.I.\] formula is given as: \[S.I. = \dfrac{{PTR}}{{100}}\]

Solution

The formula for simple interest calculation is - I = P*R*T/100Where I is interestP is principal amountR is rate of interestT is time in Years.Now you want to triple the money. That means I = 2PHence 2P = P*R*T/1002*100 = 15*THence T = 200/15 = 13.33Y or 13Y and 4 months.So the answer for your question is 13Y and 4 months.

• Academic Resource

  Aptitude Data Interpretation Verbal Reasoning Non Verbal Reasoning Verbal Ability Programming General Knowledge Puzzle

• Engineering

  Computer Engineering Electronics and Communication Electrical Engineering Mechanical Engineering Civil Engineering Biotechnology Architecture & Planning

• Online Test

  Aptitude Test Data Interpretation Test Verbal Reasoning Test Non Verbal Reasoning Test Verbal Ability Test

• Exams
• More

  Full Forms हिंदी

Home » Aptitude » Simple interest » Question

Play Sudoku

Home » Aptitude » Simple interest » Question

Simple interest

Easy Questions

Moderate Questions

Difficult Questions

Simple interest Tutorial

Aptitude

Number System

Simplification

Fractions

Elementary Algebra

LCM and HCF

Average

Approximation

Unitary Method

Linear Equation

Quadratic Equation

Discount

Surds and Indices

Percentage

Square root and cube root

Order of Magnitude

Profit and Loss

Odd Man Out and Series

Work and Wages

Algebra

Stocks and Shares

True Discount

Ratio, Proportion

Partnership

Alligation or Mixture

Time and Work

Pipes and Cistern

Speed, Time and Distance

Problem on Trains

Height and Distance

Banker's Discount

Boats and Streams

Races and games

Problems on Ages

Clocks and Calendars

Simple interest

Compound Interest

Sets and Functions

Area and Perimeter

Volume and Surface Area of Solid Figures

Sequences and Series

Plane Geometry

Logarithm

Probability

Permutation and Combination

Statistics

Mensuration

Trigonometry

Aptitude miscellaneous

1. A sum of money at simple interest trebles itself in 15 years. It will become 5 times of itself in
   

1. 1. 40 years
      
   2. 36 years
      
   3. 30 years
      
   4. 25 years

Correct Option: C

Let the principal be P.
Case-I

Case-II
SI = 4P

Second method to solve this question :

T = 30 years.

Your comments will be displayed only after manual approval.

In what time will a sum of money put at 15 simple interest triples itself?

At what rate percent per annum simple interest will a sum triple itself in 15 years?

In what time a sum of money triples itself at 5%?

What is the rate of interest if a sum of money triples itself in 16 years?