Subject
Quantitative Aptitude
Topic
Interest
A certain sum of money doubles itself in 5 years at simple interest. In how many years it becomes seven times?
A certain sum of money doubles itself in 5 years at simple interest. In how many years it becomes seven times?
ক)
10 yearsখ)
20 yearsগ)
30 yearsঘ)
32 yearsঙ)
None of theseExplanation
For simple interest, We know the amount of interest = PRT/100 A certain sum of money doubles itself in 5 years at simple interest. Hence, interest is same as the sum of money. Hence, P=(P×R×5)/100 ⇒ 5R =100 ⇒ R = 20% The money has to become 7 times, Interest will be 6 times. Hence, 6P = P×20×t/100 ⇒ 20t = 600 ⇒ t = 30 Hence, it will become 7 times in 30 years.Related questions
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