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In how many years will a sum of money become sixteen times itself at 30% p.a. simple interest?1. 252. 303. 504. 40 |
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Answer» Correct Answer - Option 3 : 50 Given: R = 30% Formula used: Simple interest = PRT/100 Amount = Principal + Simple interest Calculation: Let principal be X Rs. and time be taken T years to become it 16X. ⇒ P = X Rs. and A = 16X Rs. ⇒ S.I. = 16X - X = 15X ⇒ 15X = PRT/100 ⇒ 15X = (X × 30 × T)/100 ⇒ 100 = 2T ⇒ T = 50 years. ∴ In 50 years a sum of money will become sixteen times.
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