Question
A certain sum of money becomes 5 times of itself in 25
years at simple interest. In how many years does it become double of itself at the same rate of simple interest?Solution
Let the principal = Rs. x, Amount = Rs. 5x, Time = 25 years ∴ Simple Interest = Rs. (5x – x) = Rs. 4x Rate = [(4x × 100)/(x × 25)]% p.a. = 16% p.a. Now, Principal = Rs. x, Amount = Rs.2x, Rate = 16%p.a. Simple Interest = Rs. (2x − x)= Rs. x ∴ Time = (x × 100)/(x × 16) = 6.25 years.
More Simple and compound interest Questions
- A series is given with one term missing. Choose the correct alternatives from the given ones that will complete the series.
57, 59, 56, 61, 54, ___ - Which letter and number cluster will replace the question mark (?) to complete the given series?
LT6, KU12, IW24, FZ48, ____ - Select the number from among the given options that can replace the question mark (?) in the following series.
17, 18, 22, 31, 47, ___ - Which letter-cluster will replace the question mark (?) in the following series?
NPQR, OORQ, PNSP, ____, RLUN - Which letter-cluster will replace the question mark (?) in the following series?
RGV, UME, ?, AYW, DEF
Relevant for Exams:
