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A certain m oney doubles itself in 10 years when deposited on sim ple interest. It would triple itself in
- a)30 years
- b)20 years
- c)25 years
- d)15 years
Correct answer is option 'B'. Can you explain this answer?
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A certain m oney doubles itself in 10 years when deposited on sim ple ...
Explanation:
Let the principal amount be 'P' and the rate of interest be 'r'.
According to the question,
P + (10 * P * r/100) = 2P (as the money doubles itself in 10 years)
10 * r/100 = P
r = P/10
Now, we need to find the time in which the money triples itself. Let the time be 't'.
P + (t * P * r/100) = 3P
t * r/100 = 2P
t * P/1000 = 2P
t = 2000/P
Substituting the value of 'r' in terms of 'P' in the above equation, we get:
t = 2000/(P/10) = 20000/P
Therefore, the money will triple itself in 20 years (t = 20000/P).
Hence, the correct option is (b) 20 years.
Let the principal amount be 'P' and the rate of interest be 'r'.
According to the question,
P + (10 * P * r/100) = 2P (as the money doubles itself in 10 years)
10 * r/100 = P
r = P/10
Now, we need to find the time in which the money triples itself. Let the time be 't'.
P + (t * P * r/100) = 3P
t * r/100 = 2P
t * P/1000 = 2P
t = 2000/P
Substituting the value of 'r' in terms of 'P' in the above equation, we get:
t = 2000/(P/10) = 20000/P
Therefore, the money will triple itself in 20 years (t = 20000/P).
Hence, the correct option is (b) 20 years.
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A certain m oney doubles itself in 10 years when deposited on sim ple interest. It would triple itself ina)30 yearsb)20 yearsc)25 yearsd)15 yearsCorrect answer is option 'B'. Can you explain this answer?
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