Question
At simple interest, a sum becomes double of itself in 8
years. In how many years will it become 2.75 times of itself at the same rate?Solution
ATQ, If a sum doubles in 8 years, then interest earned in 8 years = principal. So, rate of interest per year = 100/8 = 12.5% To become 2.75 times, interest earned = 1.75 times of principal = 175% Time = 175 / 12.5 = 14 years Hence, the correct answer is 14 years.
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