SSC CHSL Exam > SSC CHSL Questions > A sum of money doubles itself in 10 years at ...
Start Learning for Free
A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.?
Most Upvoted Answer
A sum of money doubles itself in 10 years at S.I. In how many years wi...
Understanding Simple Interest (S.I.)
Simple Interest is calculated using the formula:
S.I. = (Principal × Rate × Time) / 100
In this scenario, we know that a sum of money doubles in 10 years at simple interest.
Calculating Rate of Interest
- Let the principal amount be P.
- The amount after 10 years = 2P.
- The interest earned in 10 years = 2P - P = P.
Using the simple interest formula:
P = (P × Rate × 10) / 100
- This simplifies to:
Rate = 10%.
Finding Time to Amount to 8 Times
Now, we need to determine how long it will take for the principal to amount to 8 times itself.
- Amount after 't' years = 8P.
- Interest earned = 8P - P = 7P.
Using the simple interest formula again:
7P = (P × 10 × t) / 100
- Simplifying gives us:
7 = (10t) / 100
- Thus, 700 = 10t
- Therefore, t = 70 years.
Conclusion
In conclusion, the time required for the sum of money to amount to 8 times itself at the same rate of interest is:
- 70 years.
This logical breakdown illustrates how simple interest functions and how time can be calculated based on the principal and rate of interest.
Simple Interest is calculated using the formula:
S.I. = (Principal × Rate × Time) / 100
In this scenario, we know that a sum of money doubles in 10 years at simple interest.
Calculating Rate of Interest
- Let the principal amount be P.
- The amount after 10 years = 2P.
- The interest earned in 10 years = 2P - P = P.
Using the simple interest formula:
P = (P × Rate × 10) / 100
- This simplifies to:
Rate = 10%.
Finding Time to Amount to 8 Times
Now, we need to determine how long it will take for the principal to amount to 8 times itself.
- Amount after 't' years = 8P.
- Interest earned = 8P - P = 7P.
Using the simple interest formula again:
7P = (P × 10 × t) / 100
- Simplifying gives us:
7 = (10t) / 100
- Thus, 700 = 10t
- Therefore, t = 70 years.
Conclusion
In conclusion, the time required for the sum of money to amount to 8 times itself at the same rate of interest is:
- 70 years.
This logical breakdown illustrates how simple interest functions and how time can be calculated based on the principal and rate of interest.
|
Explore Courses for SSC CHSL exam
|
|
Similar SSC CHSL Doubts
Top Courses for SSC CHSLView all
A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.?
Question Description
A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? 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 A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.?.
A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? 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 A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.?.
Solutions for A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? in English & in Hindi are available as part of our courses for SSC CHSL.
Download more important topics, notes, lectures and mock test series for SSC CHSL Exam by signing up for free.
Here you can find the meaning of A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? defined & explained in the simplest way possible. Besides giving the explanation of
A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.?, a detailed solution for A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? has been provided alongside types of A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? theory, EduRev gives you an
ample number of questions to practice A sum of money doubles itself in 10 years at S.I. In how many years will it amount to 8 times itself.? tests, examples and also practice SSC CHSL tests.
|
|
Explore Courses for SSC CHSL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup