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  • Question
  • A sum of money invested at simpleinterest triples itself in 8 years. How many times will it become in 20 years time?


  • Options
  • A. 8 times
  • B. 7 times
  • C. 6 times
  • D. 9 times

  • Correct Answer
  • 6 times 

    Explanation

    A = P(1 + rt/100)

    So, A= 3P (it becomes triples)

    3P = P(1 + 8r/100)?r = 25%

    Now, when t = 20

    ?A = P(1 + 25*20/100)

    ?A = P(1+ 5)?A = 6P

    So, it becomes 6 times.

  • Tags: Bank Exams

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