Question

The principal , at a certain rate of interest, doubles in 5 years by the simple interest. In how many years, the same principal with the same rate of interest becomes five times? ​

Answer 1

Answer:

Time required is 20 years.

Step-by-step explanation:

Let the principal money be P.

Amount = 2P. Therefore interest =(2P-P) =P.

Time =5years.

Let rate of interest be Ready.

Therefore,

P= (P×R×5)

R=(1/5) =20%.

If the amount is = 5P.

Then interest = (5P-P) =4P.

Now,

4P = (P×0.2×T)

T = 20 years.

Answer 2

It will take 20 years to make the same principal with the same rate of interest becomes five times.

Explanation:

Formula to find the simple interest : $I =\dfrac{PRT}{100}$ (1)

, where P= Principal amount

R = rate of interest

T = Time

As per given ,

At T= 5 years

I=P

Put in formula, we get

$P=\dfrac{PR(5)}{100}\\\\ 100=5R\\\\ R=\dfrac{1}{5}\times100=20\%$

When,  the amount become 5 times the Principal, then Interest : I= 5P-P=4P

If Rate = 20%

Then, put all value in (1), we get

$4P=\dfrac{P(20)T}{100}\\\\\Rightarrow\ 400=20T\\\\\Rightarrow\ T=\dfrac{400}{20}=20$

Hence, it will take 20 years to make the same principal with the same rate of interest becomes five times.

# Learn more :

Definition of Simple Interest

What is simple interest?

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