1.

In how many years will a sum of money become sixteen times itself at 30% p.a. simple interest?1. 252. 303. 504. 40

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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