Question

in what time will a sum of money lent at 8 whole 1/3 simple interest becomes 4 times of itself​

Answer 1

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Answer 2

Answer:

36 years.

Step-by-step explanation:

Given:- Rate of interest = $8\frac{1}{3}$%

To Find:- Number of years in which money will become 4 times.

Solution:-

Let the amount of money be P.

In T years, money will become 4P.

Then, interest for time T is

Simple Interest = 4P - P = 3P

Given rate of interest = $\frac{25}{3}$%.

As we know, S.I. = $\frac{PRT}{100}$

⇒ $3P = \frac{P * 25 * T}{100*3}$

⇒ $\frac{3P *3*4}{P}=T$

⇒ T = 3 × 3 × 4

⇒ T = 36 years.

Therefore, Sum of money will become 4 times in 36 years.

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