CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

A sum of money doubles itself in two years. Find the time required for it to become 4 times of itself.


A
6 years
loader
B
4 years
loader
C
10 years
loader
D
8 years
loader

Solution

The correct option is A 6 years
Given, time = 2 years.
Let the sum invested be ₹ 100.
So, the Amount received after two years = ₹ 200.

We know that,
Principal + Interest = Amount.
Hence, Interest = Amount - Principal = ₹ (200-100) = ₹ 100.

The Simple Interest earned on a sum of ₹ P for a period of T years at the rate of R% p.a S.I is given by P× R× T100.

So, ₹ 100 = 100× R× 2100
Hence, R = 50%.

Now, for the amount to become 4 times i.e ₹ 400,
The interest needed to be earned is ₹(400-100) = ₹ 300.
So, ₹ 300 = 100× 50× T100
Hence, the time taken = T = 6 years.
 

Mathematics

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
People also searched for
View More



footer-image