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    Question

    A sum of money doubles itself in 5 years in how many

    years it will be 3 times?
    A 16 years Correct Answer Incorrect Answer
    B 14 years Correct Answer Incorrect Answer
    C 10 years Correct Answer Incorrect Answer
    D 24 years Correct Answer Incorrect Answer

    Solution

    Sum of money doubles, means interest is same as principal amount, Let Principal = P So, SI = P Amount = P + SI = P + P = 2P => A = P + (PRT/100) => 2P = P + (P×R×5)/100) => 200 = 100 + R × 5 => 100 = R × 5 => R = 20% According to the question, => 3P = P + (P×20×T)/100) => T = 10 years

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