Latest Infosys Aptitude Question SOLUTION: A certain sum of money lent at a certain rate of compound interest grows to 1.44 times its value in 2 years. If the same sum is lent at simple interest at the same rate, in how ma

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A certain sum of money lent at a certain rate of compound interest grows to 1.44 times its value in 2 years. If the same sum is lent at simple interest at the same rate, in how many years would it double itself?

Solution

let the sum is x and compound interest rate is y %, then x*y*y/100*100 = 1.44x or y^2 = 14400 or y = 120 it means the sum will become 120 % in one year so interest rate = 20 %, so 5 years are required.
answer by MANAV is correct

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Asked In Infosys Aditi Sharma (13 years ago)

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