Question

a sum of money put at simple interest double itself in 8 years.In how many years it will become five time

Answer 1

Answer:

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Answer 2

Answer:

The relation is (n - 1) x 100 = rt

Split the question into two parts.

Part 1

n= 2, t = 8

(2 - 1) x 100 = 8r

=> r = 12.5%

Part 2

n= 4, r = 12.5

(4 - 1) x 100 = 12.5t

=> t = 24 years

Let principal = x

It becomes 2x in 8 years

It will become 3x in next 8 years

It will become 4x in next 8 years

Total 8 + 8 + 8 = 24 years.