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Q. Thomas invested a sum of money at simple interest which triples itself in 8 years. In how many years will it become 8 times itself at the same rate?


A
21 years
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B
24 years
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C
28 years
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D
30 years
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Solution

The correct option is C 28 years
For principal amount x
Interest generated in 8 years is 2x
For rate of interest R
2x=x×8×R100R=2008=25%
For interest = 7x
Time = T
7x=x×25100×TT=70025=28 years

Numerical Aptitude

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