Processing math: 100%


1)

A certain sum of money becomes three times of itself in 20 years at simple interest. In how many years does it become double of itself at the same rate of simple interest ?


A) 8 years

B) 10 years

C) 12 years

D) 14 years

E) 15 years

Answer:

Option B

Explanation:

Let P = Rs. x, A=3x, I = Rs. 2x

SI =PNR100 2x =x×R×20100 R =10%

In second case :

P = Rs. x, A = Rs. 2x, I = Rs. x, N = ?

SI =PNR100 2x =x×N×10100 N = 10 years.