Question
Vishwas has Rs. 5000. He gives this money to Manoj on
simple interest and after 4 years received the double amount. If the interest rate is 5% more than the previous, in how many years this amount will be doubled?Solution
S.I = P x R x T/100 5000 = (5000 x r x 4)/100 r = 25% p.a New rate = 25 + 5 = 30% 5000 = 5000 x 30% x t t = 3(1/3) years
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