Question

(3 A sum of money doubles itself in 6 years. In how many years, it becomes 5 times? ​

Answer 1

Answer:

In 24 years.

Step-by-step explanation:

Let the sum of money be 100 which amounts to 200 ( doubles itself ) in 6 years time. Interest on 100rs. Is 100. Putting the following in simple interest formula. You get :

$100=\dfrac{100\times R\times 6}{100}\\\\R=\dfrac{100}{6}$

Now when 100 will become 5 times i.e 500 the interest will be 400rs.

Putting in simple interest formula:

$400=\dfrac{\dfrac{100\times 100}{6T}}{100}\\\\T=\dfrac{2400}{100}\\\\=24\ yrs$

So, in 24 years, it will become 5 times.