Simple Interest Practice Test 2

Question : 5 of 40

Marks: +1, -0

A sum of money becomes 3 times in 5 years. In how many years will the same sum become 6 times at the same rate of simple interest?

Solution:

Let the sum of money = Rs 100
SI = Rs 200
Amount = Rs 300
Time = 5 years
R = R

SI={P×R×T}/100

200={100×R×5}/100

R = 40%
New SI = Rs 500
P = 100
Time = T
R = 40%

500={100×40×T}/100

T=500/40=12.5\years

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