A sum of money become its twice in 4 years at simple interest at same interest rate in how much time it will be 5 times?
Plz Explain it step by Step
Answers
Answer:
16 years
Step-by-step explanation:
let sum be 100
sum become its twice in 4 years
which mean 100 --> 2*100--->200 (Amount)
Amount=sum+Interest
Interest =Amount -sum
=200-100
=100
likewise,sum become 5 times 5*100-->500
interest is 500-100=400
100 in 4 years
400 in 16 years
✔️Answer ✔️
Your answer:-
A=P(1+ R/100 )^T
2x=x(1+ R/100)^4
(1+ R/100)=2^1/4
8x=x(1+ R/100)^T
∵1+R/100=2^1/4
∴8=2^T/4
2^3 =2^T/4
T/4=3
T=12years
What is simple interest?
Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account. Simple interest does not compound, meaning that an account holder will only gain interest on the principal, and a borrower will never have to pay interest on interest already accrued.
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