Question

if some money increase 3 times in 15 years 6 months. In how many years money will increase 2 times​

Answer 1





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Class 11

>>Applied Mathematics

>>Basics of financial mathematics

>>Accumulation with simple and compound interest

>>A sum of money triples itself in 15 year

Question



A sum of money triples itself in 15 years 6 months. In how many years would it double itself?

A

6 years 3 months

B

7 years 9 months

C

8 years 3 months

D

9 years 6 months

Medium

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Solution



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Correct option is B)

⇒   Let sum be x then, S.I will be 2x.

⇒   Time = 1521years=231years

∴     Rate=[x×231100×2x]%

∴     Rate=31400%

⇒   Now, Sum=x,S.I=x and R=31400%

⇒    Time=x×31400100×x

⇒    T=431years

∴      T=7years9months.