πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

    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?
    A 12.5 years Correct Answer Incorrect Answer
    B 5 years Correct Answer Incorrect Answer
    C 10 years Correct Answer Incorrect Answer
    D 6.25 years Correct Answer Incorrect Answer

    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.

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question