Question

A sum of money becomes six times itself at simple interest in 25 years. How long would it take for same amount to become double?

Answer 1

5 years

Step-by-step explanation:

$Amount=P(1+\frac{RT}{100}) \\ 6P=P(1+\frac{R \times 25}{100}) \\ divide \: by \: P \: on \: both \: sides \\ 6 = 1+\frac{R}{4} \\ \frac{R}{4} = 5 \\ R = 20 \\ Amount=P(1+\frac{RT}{100}) \\ 2P=P(1+\frac{20 \times T }{100}) \\ divide \: by \: P \: on \: both \: sides \\ 2 = 1+\frac{T}{5} \\ \frac{T}{5} = 1 \\T = 5$