Question

Rajesh deposits a certain amount in a bank which becomes three times of itself in 16 years. Find the time required by the same amount to become four times of itself at the same tate of interest,if the interest is not compounded

Answer 1

Let the sum of money (principal) be Rs. 100

∴ A.T.Q. -

Amount=3×principal

∴ Amount = 3×100

=Rs. 300

∵Interest(I) = (A)Amount-Principal(P)

∴ I = (300-100)Rs.

=Rs.200

and ∵ I = (P×R×T)/100

∴ 200 = (100×R×16)/100

⇒ 200 = (1600×R) /100

⇒ R = (200×100)/1600

⇒ R = 12.5%

In case 2 :

Amount = 4×principal

∴ A =( 4×100)Rs.

= Rs. 400

∵ I = A-P

∴ I = (400-100)Rs.

=Rs. 300

Time =?

Rate = 12.5 % p.a(per annum OR per year)

∵ Time = (Interset × 100)/P ×R

∴ Time = (300 × 100)/(100 ×12.5)

⇒ Time = 24 Years

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Answer 2

Answer:

Let the sum of money (principal) be Rs. 100

∴ A.T.Q. -

Amount=3×principal

∴ Amount = 3×100

=Rs. 300

∵Interest(I) = (A)Amount-Principal(P)

∴ I = (300-100)Rs.

=Rs.200

and ∵ I = (P×R×T)/100

∴ 200 = (100×R×16)/100

⇒ 200 = (1600×R) /100

⇒ R = (200×100)/1600

⇒ R = 12.5%

In case 2 :

Amount = 4×principal

∴ A =( 4×100)Rs.

= Rs. 400

∵ I = A-P

∴ I = (400-100)Rs.

=Rs. 300

Time =?

Rate = 12.5 % p.a(per annum OR per year)

∵ Time = (Interset × 100)/P ×R

∴ Time = (300 × 100)/(100 ×12.5)

⇒ Time = 24 Years

Explanation: