Question

an amount doubles in 5 years by the simple interest. How many years are required for the same amount with same rate of interest to get converted to five times the original amount

Answer 1

Answer:

20 years are required for the same amount with same rate of interest to get converted to five times the original amount

Step-by-step explanation:

Formula for simple interest

I = (PNR)/100

I - simple interest

P - Principle amount

N - Number of years

R - Rate of interest

To find rate of interest

It is given that,an amount doubles in 5 years by the simple interest

we can write,N = 5 years and  I = P

I = (PNR)/100

P = (PNR)/100

1 = (NR)/100

R = 100/N = 100/5 = 20%

To find the years required to get 5 times the principle

Here, I = 4P, R = 20%

we can write,

4P =  (PNR)/100

4 =  (NR)/100

N = 400/R = 400/20 = 20 years

Answer 2

Answer:

20%

Step-by-step explanation:

first we have not have rate and principal then we have only time BY USING FORMULA =P×R×T÷100= 5÷100=20%