Question

In what time does a sum of money become four times at the simple interest rate of 5% per annum

Answer 1

60 years it will become 4 times

Answer 2

A sum of money become four times at the simple interest rate of 5% per annum in 60 years .

Step-by-step explanation:

Let the principal be x

We are given that amount gets four times

So, Amount = 4x

Simple interest = 4x-x=3x

Rate of interest= 5%

Formula : $SI =\frac{P \times T \times R }{100}$

$3x =\frac{x \times T \times 5}{100}$

$\frac{300}{5}=T\\60 = T$

Hence a sum of money become four times at the simple interest rate of 5% per annum in 60 years .

#Learn more:

At what rate percent compound interest ,does a sum of money become 1.44 times of itself in 2 years?

https://brainly.in/question/3402614