Question

the time required for a sum of money to amount to five times itself at 16% simple interest p. a. will be​

Answer 1

Step-by-step explanation:

Let the sum of money be Rs. x and the time required to amount to five times itself be t years.

So, the interest in t year should be Rs. 4x.

In case of simple interest, we know,

(P × T × r)/100 = SI

Where, P = Principal amount, T = Duration in years, i = Interest rate per year, SI = Total simple interest

Then,

x × t × 16% = 4x

⇒ t × (16/100) = 4

⇒ t = 400/16 = 25

∴ The required time = 25 years.