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55. A sum of money triples itself in 3 yr at a simple interestarethethehow many years will it multiply five times?(2) 6(3) 4(4) 8 |
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Answer» Let rate be r, principle amount be p and the number of years betAfter 5 years,⇒ Simple Interest = 3p – p = 2p⇒ 2p = (p × r × 3)/100⇒ r = 66.67After t years,⇒ Simple Interest = 5p – p = 4p⇒ 4p = (p × 66.67 × t)/100⇒ t = 5.999∴ It will take 6 years |
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