Question

A certain sum of money invested at ci become 1.44 itself in 2 year. If twice their sum were lent at si, how many years will double itself

Answer 1

Answer:

For CI,

Let sum of money be x and amount is 1.44 times

Therefore,

Amount=P[1+R/100]

(x)(144/100)=(x)[1+R/100]^2

[12/10]^2=[1+R/100]^2

R=20%

For SI,ATQ

Principal=2x and Amount =2×2x=4x and SI=4x-2x=2x

Therefore,

SI=(P×R×T)/100

2x=(2x×20×T)/100

T=5 years