Question

If a sum of money at simple interest doubles in 5 years , then in how many years , it will become 4 times? Please show the steps...

Answer 1

P - principal amount, N= No.of.years, R - rate of interest..

doubles in 5 years.

S.I = PNR/100

P= PR(5) /100

R = 100 / 5 = 20%

Rate of interest = 20%

4 times means

3 P= PNR /100

3 = RN /100

3= 20N /100

N=3*5 = 15 years.

It will become 4 times in 15 years.