๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!
  • google app store apple app store
    • โœ–

      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 + (Pร—Rร—5)/100) => 200 =ย 100 + Rย ร— 5 => 100 =ย Rย ร— 5 => R = 20% According to the question, =>ย 3P = P + (Pร—20ร—T)/100) => T = 10 years

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question