Question
A certain sum of money becomes 6 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. 6x, Time = 25 years â´Â Simple Interest = Rs. (6x â x) = Rs. 5x Rate = [(5x Ă 100)/(x Ă 25)]% p.a. = 20% p.a. Now, Principal = Rs. x, Amount = Rs.2x, Rate = 20%p.a. Simple Interest = Rs. (2x â x)= Rs. x â´ Â Time = (x Ă 100)/(x Ă 20) = 5 years.
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