Question

The time required for a sum of money to amount to 4 times itself at 15% 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
E 30 years Correct Answer Incorrect Answer

Solution

Let Principal = x Amount = 4x Simple Interest = 4x-x=3x Simple Interest = (P ×R ×T)/100 3x = (x ×15 ×T)/100 T = 20 years.

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