A sum of money becomes five times of itself in 40 years at simple interest . In how many years it would been double of itself?
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Answer:
8 years
Step-by-step explanation:
Sum becomes five times mean simple is interest is 5 times the principal amount
SI= 5P
we know that SI is
SI= PTR/100
5P=P x 40 x R /100
R= 5 x 100/40
R= 12.5%
The rate is 12.5%
Time taken to sum of money to become double of itself is, here SI=P
SI= PTR/100
P=P x T x 12.5 /100
T= 100/ 12.5
T= 8 years
in 8 years it would been double of itself
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