Correct Answer - Option 2 : 40 years Show
Given: Sum doubles itself in ten years Concept: Simple interest = (Principle × Rate × Time)/100 Calculation: ⇒ Let the sum be P rupee and Rate of interest be R% per annum ⇒ P × (R/100) × 10 = 2P – P = P ⇒ R = 10 ⇒ Let us say it will take T years for it to become 5 times itself ⇒ P × (R/100) × T = 4P, T = 40 ∴ The required result will be 40 years.  GMAT Club Daily PrepThank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.Customized we will pick new questions that match your level based on your Timer History Track every week, we’ll send you an estimated GMAT score based on your performance Practice we will pick new questions that match your level based on your Timer History Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.Hello Guest!It appears that you are browsing the GMAT Club forum unregistered! Signing up is free, quick, and confidential. Join 700,000+ members and get the full benefits of GMAT ClubRegistration gives you:
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Senior Manager Joined: 10 Oct 2018 Status:Whatever it takes! Posts: 339 GPA: 4 A sum of money doubles itself in 7 years. In how
many years it becomes [#permalink]
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Hide Show timer Statistics A sum of money doubles itself in 7 years. In how many years it becomes four fold? Manager Joined: 21 Feb 2019 Posts: 84 Location: Italy Re: A sum of money doubles itself in 7 years. In how many years it becomes [#permalink]
\(n\) at \(t= 0\).
Target Test Prep Representative Joined: 14 Oct 2015 Status:Founder & CEO Affiliations: Target Test Prep Posts: 16254 Location: United States (CA) Re: A sum of money doubles itself in 7 years. In how many years it becomes
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nm97 wrote: A sum of money doubles itself in 7 years. In how many years it becomes four fold? If the initial amount of money is x dollars, then 7 years later, it will be 2x dollars, and in another 7 years, it will be 4x dollars. Thus, it takes 14 years to quadruple the initial amount money. See why Target Test Prep is the top rated GMAT course on GMAT Club. Read Our Reviews Intern Joined: 20 Jan 2018 Posts: 25 Re: A sum of money doubles itself in 7 years. In how many years it becomes [#permalink]
nm97 wrote: A sum of money doubles itself in 7 years. In how many years it becomes four fold? Can anyone explain this question. Simple Interest will be applied to it right? With that the answer is 21 years. Manager Joined: 21 Feb 2019 Posts: 84 Location: Italy Re: A sum of money doubles
itself in 7 years. In how many years it becomes [#permalink]
MG1105 It isn't
right. You are supposing the amount of money linearly increases, but it's not the case (it's quadratic). Re: A sum of money doubles itself in 7 years. In how many years it becomes [#permalink] 29 Apr 2019, 09:43 Moderators: Senior Moderator - Masters Forum 3088 posts What percentage of simple interest sum of money will double itself in 7 years?A = R s 2 P S I = A - P = 2 P - P = P R = S I × 100 P × T = P × 100 P × 7 = 100 7 %
How many years will the sum becomes 5 times itself?A sum becomes 5 times of itself in 3 years. at compound interest (interest is compounded annually). Let the sum becomes 125 times in n years. ∴ In 9 years it will become 125 times.
How long would take for a sum of money to become 5 times of itself at 20 %; per month simple rate of interest?Let after t years, the sum will become 5 times of itself . Rate = 20 % p.a. So, SI = Rs 5x- x = Rs 4x . = 5/4 years .
What is the interest rate if money doubles in 5 years?For example if you wanted to double an investment in 5 years, divide 72 by 5 to learn that you'll need to earn 14.4% interest annually on your investment for 5 years: 14.4 × 5 = 72.
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If a sum of money doubles itself in 7 years at simple interest it becomes 5 times in how many years
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