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A sum of money doubles  itself in 2 years at a simple interest. In how many years will it multiply four times?

  • a)
    5 years

  • b)
    6 years

  • c)
    4 years

  • d)
    8 years

  • e)
    None of these

Correct answer is option 'B'. Can you explain this answer?
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A sum of money doubles itself in 2 years at a simple interest. In how ...
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A sum of money doubles itself in 2 years at a simple interest. In how ...
Let the principle be x and rate be r
According to question the money triples itself in 3 years
therefore interest =3x-x=2x
by formula of simple interest,
2x=(x × r × 3)/100
r=200/3% pa
for multiplying the principal 5 times interest should =5x-x
=4x
therefore
4x=(x × 200/3 ×T)÷100
or,T=(4×300)÷200
or,T=6 years ans
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Community Answer
A sum of money doubles itself in 2 years at a simple interest. In how ...
For 3 yrs
SI = P*R*T/100
3P-P = P*R*3/100
2P = 3P*R/100
R = 200/3
Money will become 5 times
5P - P = (P*200/3*T)/100
4P = (2/3P)T
T = 6
Money will become five times in 6 years.
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A sum of money doubles itself in 2 years at a simple interest. In how many years will it multiply four times?a)5 yearsb)6 yearsc)4 yearsd)8 yearse)None of theseCorrect answer is option 'B'. Can you explain this answer?
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