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The time required for a sum of money to amount to five times itself at 16% simple interest p.a. will be
The time required for a sum of money to amount to five times itself at 16% simple interest p.a. will be
1). 10 years
2). 15 years
3). 30 years
4). 25 years
1). 10 years
2). 15 years
3). 30 years
4). 25 years
This Question has 1 answers.
Let the principal amount be $ P $.
The sum amounts to five times itself, so the final amount is:
$ A = 5P $
Using the simple interest formula:
$ A = P + SI $
$ 5P = P + \frac{P \times R \times T}{100} $
Substituting $ R = 16\% $:
$ 5P = P + \frac{P \times 16 \times T}{100} $
Dividing by $ P $ on both sides:
$ 5 = 1 + \frac{16T}{100} $
$ 5 - 1 = \frac{16T}{100} $
$ 4 = \frac{16T}{100} $
$ T = \frac{4 \times 100}{16} $
$ T = 25 $ years
Final Answer:
$ \boxed{25} $ years
The sum amounts to five times itself, so the final amount is:
$ A = 5P $
Using the simple interest formula:
$ A = P + SI $
$ 5P = P + \frac{P \times R \times T}{100} $
Substituting $ R = 16\% $:
$ 5P = P + \frac{P \times 16 \times T}{100} $
Dividing by $ P $ on both sides:
$ 5 = 1 + \frac{16T}{100} $
$ 5 - 1 = \frac{16T}{100} $
$ 4 = \frac{16T}{100} $
$ T = \frac{4 \times 100}{16} $
$ T = 25 $ years
Final Answer:
$ \boxed{25} $ years
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