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    Question

    A sum of money doubles itself in 8 years in how many

    years it will be 5 times?
    A 24 years Correct Answer Incorrect Answer
    B 40 years Correct Answer Incorrect Answer
    C 32 years Correct Answer Incorrect Answer
    D 30 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├ЧR├Ч8)/100) => 200 =┬а100 + R┬а├Ч 8 => 100 =┬аR┬а├Ч 8 => R = 12.5% According to the question, =>┬а5P = P + (P├Ч12.5├ЧT)/100) => T = 32 years

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