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Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.?
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Certain amount will become six times in 20 years. How long does it tak...
Understanding Simple Interest
Simple interest (SI) is calculated using the formula:
SI = (Principal × Rate × Time) / 100.
The total amount (A) can be expressed as:
A = Principal + SI.
Given Scenario
- An amount becomes six times in 20 years.
- Therefore, if the principal is P, the amount becomes 6P in 20 years.
Calculation of Interest
- The interest earned in 20 years can be calculated as:
SI = 6P - P = 5P.
- Using the simple interest formula:
5P = (P × Rate × 20) / 100.
Finding the Rate
- Rearranging gives:
Rate = (5P × 100) / (P × 20) = 25%.
Applying the Rate to Find Time for 5 Times
- Now, we need to find out how long it will take for the same principal (P) to become 5P.
- The interest required to reach 5P is:
SI = 5P - P = 4P.
- Applying the simple interest formula again:
4P = (P × 25 × Time) / 100.
Calculating Time
- Rearranging gives:
Time = (4P × 100) / (P × 25) = 16 years.
Conclusion
- It will take 16 years for the same amount to become five times at the same rate of simple interest.
Simple interest (SI) is calculated using the formula:
SI = (Principal × Rate × Time) / 100.
The total amount (A) can be expressed as:
A = Principal + SI.
Given Scenario
- An amount becomes six times in 20 years.
- Therefore, if the principal is P, the amount becomes 6P in 20 years.
Calculation of Interest
- The interest earned in 20 years can be calculated as:
SI = 6P - P = 5P.
- Using the simple interest formula:
5P = (P × Rate × 20) / 100.
Finding the Rate
- Rearranging gives:
Rate = (5P × 100) / (P × 20) = 25%.
Applying the Rate to Find Time for 5 Times
- Now, we need to find out how long it will take for the same principal (P) to become 5P.
- The interest required to reach 5P is:
SI = 5P - P = 4P.
- Applying the simple interest formula again:
4P = (P × 25 × Time) / 100.
Calculating Time
- Rearranging gives:
Time = (4P × 100) / (P × 25) = 16 years.
Conclusion
- It will take 16 years for the same amount to become five times at the same rate of simple interest.
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Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.?
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Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.?.
Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in each case.?.
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