Ex. 29: A sum of money doubles itself in 4 yrs at a simple interest. I

1.	Ex. 29: A sum of money doubles itself in 4 yrs at a simple interest. Inhow many yrs will it amount to 8 times itself?
Answer» Principal amount = P, Rate of Interest = R, Time period =T, Simple Interest = SI As per given conditionSI = PRT/100P = PR4/100 R = 25% Amount will be 8 times, then SI = 7P7P = P25T/100T = 7*4T = 28 Therefore, in 28 years amount will become 8 times of itself

Ex. 29: A sum of money doubles itself in 4 yrs at a simple interest. Inhow many yrs will it amount to 8 times itself?

Answer»

Principal amount = P, Rate of Interest = R, Time period =T, Simple Interest = SI

As per given conditionSI = P*R*T/100P = P*R*4/100

R = 25%

Amount will be 8 times, then SI = 7P7P = P*25*T/100T = 7*4T = 28

Therefore, in 28 years amount will become 8 times of itself