In how many years will a sum of money becomes 5 times at 8 % p.A simple interest
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Answer:
In 50 years a sum of money becomes 5 times at 8 % p.A simple interest
Explanation:
According to the question let the,
Value of principle = x
Value of amount = 5x
Rate = 8% p.a.
With the help of formula,
Interest = Aamount - Principle
On putting the value in the formula we get,
Interest = amount - principle
= 5x-x
= 4x
On further using the formula of time,
Time = 100* interest / principle * rate
On putting the value we get,
Time = 100 * Interest / Principle * Rate
= 100 * 4x / x * 8
= 400x / 8x
= 50 Years.
The answer is 50 years.
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