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Open in App Solution Let sum of money be P=100Interest per annum =10% amount = 2× 100 = 200 simple interest = 200 - 100 = 100Since, SI=PTR100⇒T=100×SIPR=100×100100×10∴t=10 years.Similar questions Q. A certain sum of money lent out at a certain rate of interest per annum,
doubles itself in 10 years. In how many years will it treble itself? Q. In how many years will a sum of money double itself at 4% per annum ? Q. At what rate percent per annum simple interest will a sum of money double itself in 6 years? Q. A sum of money lent out at C.I. at a certain rate per annum doubles itself in 5 years. Find in how many years will the money become eight times of itself at the same rate of interest p.a. Q. At what rate percent per annum will a sum of money double itself in 10 years. View More Solution: In second case, Principal (P) = Rs. 900 Rate (R) = 4%, Time (T) = 5 years ∴SI=\frac{PRT}{100}=\frac{900\times4\times5}{100}=180Rs. In first case, SI = Rs. 180 Rate = 5%, Time = 3 years ∴ Sum = \frac{SI\times100}{R\times T}=\frac{180\times100}{3\times5}=Rs.1200 Let principal = X, A = 3X, T = 8 years, R = ? Case I, `"3X" = "X"[ 1+ "R"/100 ]^8` `3^(1/8) = 1 + "R"/100 ` ...(1) Case II, `27^(1/T) = 1 + "R"/100` ...(2) From (1) and (2) `3^(1/8) = 3^(1/8) = 3/"T"` T = 24 Time = 24 years. A sum of money invested at compound interest triples itself in six years. In how many years will it become 81 times itself at the same rate of compound interest?
Formula Used A = P (1 + r/100)t Calculation A = P (1 + r/100)t It is given that the sum of money triples itself in six years. So, 3P = P(1 + r/100)6 ⇒ 3 = (1 + r/100)6 ⇒ (3)1/6 = (1 + r/100) …………….(1) Again, the sum of money becomes 81 times itself at the same rate of compound interest. ⇒ 81P = P (1 + r/100)t ⇒ 81 = (1 + r/100)t Now, put the value of (1 + r/100) from (1), we get, ⇒ 81 = (31/6)t ⇒ 34 = (31/6)t ⇒ t/6 = 4 ⇒ t = 24 years. ∴ It will take 24 years to become the sum 81 times itself. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! In what time will a sum of money lent at 25 by 3% simple interest becomes 4 times of itself?∴ Time is 8 years. Was this answer helpful?
What sum of money lent out at 5% for 3 years will produce the same interest as Rupees 900 lent out at 4% for 5 years?∴ S I = P R T 100 = 900 × 4 × 5 100 = 180 R s . ∴SI=\frac{PRT}{100}=\frac{900\times4\times5}{100}=180Rs. ∴SI=100PRT=100900×4×5=180Rs.
In what time does a sum of money becomes 4 times at the simple interest rate of 10% per annum 30 60 45 90?Time period be t years. So, Amount, A = 4 times principal sum of money = 4*1 = Rs 4. Therefore, Time period, t = 30 years.
What sum of money lent for 3 year at 4% a year will to Rupee 392?Thus, the sum of Rs. 350 will amount to Rs. 392 at the rate of 4% p.a in 3 years.
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In what time will a sum of money lent at 81 by 3% simple interest becomes 4 times of itself?
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