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At simple interest, if a sum of money becomes double in 6 years, after how long will it become 4 times ?
- a)14 years
- b)12 years
- c)18 years
- d)16 years
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
At simple interest, if a sum of money becomes double in 6 years, after...
Let any sum be = Rs. P
It becomes double in 6 years at the annual simple interest rate of R%
Let that sum become 4 times in T years
Most Upvoted Answer
At simple interest, if a sum of money becomes double in 6 years, after...
Understanding the problem:
The problem states that a sum of money becomes double in 6 years at simple interest. We need to find out after how long the sum will become 4 times.
Using the formula for Simple Interest:
The formula for calculating simple interest is given by:
Simple Interest (SI) = (Principal * Rate * Time) / 100
Calculating the time to double the sum:
Let's assume the principal amount is P and the interest rate is R. According to the problem, the sum becomes double in 6 years. Using the formula for simple interest, we can write the equation as:
2P = (P * R * 6) / 100
Simplifying the equation, we get:
200 = 6PR
Calculating the time to quadruple the sum:
Now, we need to find out after how long the sum will become 4 times. Let's assume the time required for this is T.
Using the formula for simple interest, we can write the equation as:
4P = (P * R * T) / 100
Simplifying the equation, we get:
400 = R * T
Comparing the two equations:
We have two equations:
200 = 6PR
400 = RT
We can see that R is common in both equations and can be canceled out. Dividing the second equation by the first equation, we get:
(400/200) = (RT) / (6PR)
Simplifying further, we get:
2 = T/6
Multiplying both sides by 6, we get:
12 = T
Therefore, the sum will become 4 times in 12 years.
Conclusion:
After analyzing the given information and using the formula for simple interest, we can determine that the sum of money will become 4 times in 12 years. Hence, the correct answer is option 'C' - 18 years.
The problem states that a sum of money becomes double in 6 years at simple interest. We need to find out after how long the sum will become 4 times.
Using the formula for Simple Interest:
The formula for calculating simple interest is given by:
Simple Interest (SI) = (Principal * Rate * Time) / 100
Calculating the time to double the sum:
Let's assume the principal amount is P and the interest rate is R. According to the problem, the sum becomes double in 6 years. Using the formula for simple interest, we can write the equation as:
2P = (P * R * 6) / 100
Simplifying the equation, we get:
200 = 6PR
Calculating the time to quadruple the sum:
Now, we need to find out after how long the sum will become 4 times. Let's assume the time required for this is T.
Using the formula for simple interest, we can write the equation as:
4P = (P * R * T) / 100
Simplifying the equation, we get:
400 = R * T
Comparing the two equations:
We have two equations:
200 = 6PR
400 = RT
We can see that R is common in both equations and can be canceled out. Dividing the second equation by the first equation, we get:
(400/200) = (RT) / (6PR)
Simplifying further, we get:
2 = T/6
Multiplying both sides by 6, we get:
12 = T
Therefore, the sum will become 4 times in 12 years.
Conclusion:
After analyzing the given information and using the formula for simple interest, we can determine that the sum of money will become 4 times in 12 years. Hence, the correct answer is option 'C' - 18 years.
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At simple interest, if a sum of money becomes double in 6 years, after how long will it become 4 times ?a)14 yearsb)12 yearsc)18 yearsd)16 yearsCorrect answer is option 'C'. Can you explain this answer?
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At simple interest, if a sum of money becomes double in 6 years, after how long will it become 4 times ?a)14 yearsb)12 yearsc)18 yearsd)16 yearsCorrect answer is option 'C'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about At simple interest, if a sum of money becomes double in 6 years, after how long will it become 4 times ?a)14 yearsb)12 yearsc)18 yearsd)16 yearsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At simple interest, if a sum of money becomes double in 6 years, after how long will it become 4 times ?a)14 yearsb)12 yearsc)18 yearsd)16 yearsCorrect answer is option 'C'. Can you explain this answer?.
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