Q. Thomas invested a sum of money at simple interest which triples itself in 8 years. In how many years will it become 8 times itself at the same rate?
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Solution
The correct option is C 28 years
For principal amount x
Interest generated in 8 years is 2x
For rate of interest R
2x=x×8×R100R=2008=25%
For interest = 7x
Time = T
7x=x×25100×TT=70025=28 years
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Aptitude miscellaneous
A sum of money at simple interest trebles itself in 15 years. It will become 5 times of itself in
- 40 years
- 36 years
- 30 years
- 25 years
- 40 years
Correct Option: C
Let the principal be P.
Case-I
2P = | P × R × 15 |
100 |
⇒ 2P = | 2 × 100 | = | 40 | % |
15 | 3 |
Case-II
SI = 4P
∴ 4P = | P × 40 × T |
100 |
⇒ T= | 4 × 300 | = 30 yaers |
40 |
Second method to solve this question :
R = | (3 - 1) | × 100% |
15 |
R = | 2 | × 100% | = | 2 | × 20% |
15 | 15 |
R = | 40 | % |
3 |
T = | (n - 1) | Years |
R |
T = | (5 - 1) | × 100 |
(40 ÷ 3) |
T = 30 years.
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