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Question

₹ 4000 amount to ₹ 5000 in 8 years. In what time will ₹ 1600 amount to ₹ 2400 at the same rate?



A

12 years 

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B

10 years 

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C

16 years

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D

20 years

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Solution

The correct option is C

16 years


Principal (P) = ₹ 4000  ; Amount = ₹ 5000  

Hence Interest (I) = ₹ 5000 - ₹ 4000 = ₹ 1000
Let the rate per annum be 'R' 
Time (n)= 8 years 

Now, I=PTR100

1000 = 4000×8×R100

R=258 %
In the second case P = 1600 and Amount = ₹ 2400     

Hence I = ₹ 2400 -  ₹ 1600 = ₹ 800

Let the time be n and rate of interest = 258

Then, 800 =  1600×25×n100×8

n = 800×8×1001600×25

Therefore n = 16 years 


Mathematics

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