Question

A certain amount of money deposited for simple interest becomes 3 times in 3 years. in how many years will that amount be 27 times the amount if it is given for the same rate of interest

• A. 39
• B. 6
• C. 12
• D. 10

Answer 1

The correct option is A 39

Given, A sum of money become 3 times in 3 years.

Simple Interest $=\frac{P\times R\times T}{100}...eq.1$

given P is 3 times = P + P + P

$\Rightarrow \frac{P\times R\times T}{100}=2P$

$\Rightarrow \frac{R\times T}{100}=2\Rightarrow R\times 3=200\Rightarrow R=\frac{200}{3}R=66.66$

Now, 27 times $\Rightarrow$ By put in equation 1.

$26P=\frac{P\times \frac{200}{3}\times T}{100}\Rightarrow 26=\frac{200\times T}{3\times 100}\Rightarrow T=\frac{26\times 3}{2}T=39$

$\therefore$ option A is correct.