Question

A sum of money invested at simple interest triples




itself in 8 years. Find in how many years will it become




8 times itself at the same rate?

Answer 1

Answer:

28%

Explanation:

Suppose ₹100 is invested

and say into is X

So 100+8X=300

So 8X=200

So X=25%

This is rate of interest.

Now if ₹100 is to become

₹800 at same rate of interest (or 25%), The number of years will increase. Suppose it is

Y years.

So

100+25*Y=800

so 25*Y=800-100

...........=700

so..... Y= 700/25

=700*4/100

7*4=28% ANSWER.