A sum amounts to Rs 4545 at the rate of 10 %.p.a. in 5 years. In how many years will the same sum am

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16 Mar 2020 Simple Interest

A sum amounts to Rs 4545 at the rate of 10 %.p.a. in 5 years. In how many years will the same sum amount to three times the value of sum?

OPtion

1) 12
2) 18
3) 16
4) 21
5) 10
6) 15
7) 17
8) 20
9) 24
10) None of these

Solution

A = P (1+ RT/100 )
4545 = P (1 + 5*10/100)
=> 4545 = P (3/2)
=> P = 3030

A = 9090. P= 3030, R=10, T=?
SI = 9090-3030 = 6060


SI=PRT/100

6060 = 3030*10*T/100
=> T = 20

Correct Option: 8 Best Solution (2)