In what time will a sum amount of 5 times of itself at the rate of 7.5% per annum.
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GIVEN :-
Rate(r) = 7.5 %
TO FIND :-
The time(t) when the amount will be equal to 5 times of the principal.
SOLUTION :-
Let the principal be P. Then the amount will be 5P.
We know,
S.I = Amount - Principal
⇒S.I = 5P - P
⇒S.I = 4P
We also know,
S.I = (p × r × t)/100
Putting the known values :-
⇒ 4P = (P × 7.5 × t)/100
⇒ 400P = 7.5 Pt
⇒ t = 400P/7.5P
⇒ t = 4000/75
⇒ t = 160/3 years
∴ Therefore, the sum will be five times of the principal in 160/3 years.
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