1.

A certain sum of money becomes double of itself in 5 years at a rate of simple interest. In how many years will it become 16 times of itself at the same rate of simple interest?1). 202). 603). 754). No option is correct.

Answer»

A amount is DOUBLED when it GETS the same amount as interest.

So if we have to MAKE money 16 times then its interest would be 15 times.

Time taken to 1 time interest = 5 YEARS

∴ Time taken to get 15 times interest = 15 × 5 = 75 years


Discussion

No Comment Found