Related The time required for a sum of money to amount to five times itself at 16% simple interest p.a. will bea)25 yearsb)20 yearsc)15 yearsd)18 yearsCorrect answer is option 'A'. Can you explain this answer? Show
GIVEN: Rate of Interest = 16% FORMULA USED: Simple Interest = (P × R × T)/100 CALCULATION: Let Principal = x Amount = 5x Simple Interest = 5x - x=4x Simple Interest = (P × R × T)/100 4x = (x × 16 × T)/100 T = 25 years. Alternate method: Principal (100) → amount (500) So, interest = 500 - 100 = 400 @ 16% Therefore, required time = 400/16 = 25 years Solution Let, Principal amount be P.Rate of interest be R per annum. Time of investment is (T)=12 years.Sum of the money becomes three times in 12 years.⇒A=3P. (adsbygoogle = window.adsbygoogle || []).push({}); ⇒A=P+(P×T×R100)⇒3P=P(1+T×R100)⇒3=1+12×R100⇒3−1=12R100⇒2=3R25⇒50=3R⇒503=RNow, we need to find the number of years T such that, Sum of the money becomes five times. (adsbygoogle = window.adsbygoogle || []).push({}); ⇒5P=P(1+T×R100)⇒5=1+T×503×100⇒5−1=T×13×2⇒4=T6⇒24=Twill it become 5 times at the same rate of simple interest 24 years.In what time a sum of money will triple itself at simple interest 20 PA?Detailed Solution
Let the sum of money be Rs. P. ∴ The required time is 10 years.
In what time will the sum of money becomes three times?∴ In 20 years, a sum of money becomes 3 times of itself. The Employees' State Insurance Corporation has released the Phase 3 admit card for ESIC UDC 2022.
In what time will a sum of money be multiplied three times at simple interest of 15% per annum?So the answer for your question is 13Y and 4 months. Q. (ii) in how many years will the sum become triple (three times) of itself at the same rate per cent?
How many years does a sum of money becomes 3 times itself at 12.5% pa simple interest?Solution : Let T years be the required time period. <br> Given that, <br> Amount `(A)=3 xx ` Principal (P) <br> `therefore P(1+(TR)/(100))=3P` <br> `implies 1+(12T)/(100)=3 implies T=(200)/(12)=16(2)/(3)` years <br> Hence, required time period`=16(2)/(3)` years.
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In what time will the sum of money become three times at a simple interest of 10% pa?
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