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Question

The time required for a sum of money to amount to five times itself at 16% simple interest p.a. will be

A 25 years Correct Answer Incorrect Answer
B 20 years Correct Answer Incorrect Answer
C 15 years Correct Answer Incorrect Answer
D 18 years Correct Answer Incorrect Answer

Solution

Let Principal = Rs. 100 then Amount = Rs. 500 then Simple Interest = 500-100=400  & we know that , Simple Interest = (P ×R ×T)/100 So 400 = (100 ×16 ×T)/100 T = 400/16 = 25 years.

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