Question

At what rate will a sum of money amount to Five times itself in 5 years, interest received being simple?

Answer 1

Answer:

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Let the Principal be Rs.100

amount=300

SI=p*r*t/100

200=100*r*5/100

200=5r

200/5=r

40=r

the rate of interest is 40%

required amount=500

required interest=400

400=100*40*t/100

400=40t

400/40=t

10=t

it will take 10 years to be 5 times.

Answer 2

Answer:let the Principal be Rs.100

amount=300

SI=p*r*t/100

200=100*r*5/100

200=5r

200/5=r

40=r

the rate of interest is 40%

required amount=500

required interest=400

400=100*40*t/100

400=40t

400/40=t

10=t

it will take 10 years to be 5 times.or,

Let rate be r, principle amount be p and the number of years bet

After 5 years,

⇒ Simple Interest = 3p – p = 2p

⇒ 2p = (p × r × 5)/100

⇒ r = 40

After t years,

⇒ Simple Interest = 5p – p = 4p

⇒ 4p = (p × 40 × t)/100

⇒ t = 10

∴ It will take 10 years

Step-by-step explanation:hope it helped u