1)

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


A) 8 Yrs

B) 10 Yrs

C) 12 Yrs

D) 14 Yrs

E) None

Answer:

Option B

Explanation:

Case I

P=x; A=3x; I=2x

SI =PNR100  2x =(x×R×20)100

R =10%

Case II

P=x; A=2x ; I=x; N = ?

SI =PNR100 x=(x×N×10)100

N = 10 Yrs