Quantitative Aptitude Ques 535

Question: The time required for a sum of money to amount to four times itself at 15% simple interest per annum will be

Options:

A) 30 yr

B) 20 yr

C) 10 yr

D) 15 yr

Show Answer

Answer:

Correct Answer: B

Solution:

  • [b] We know that, $ A=P+SI $ According to the question, $ 4P=P+\frac{P\times T\times 15}{100} $
    $ \Rightarrow $ $ 3P=\frac{P\times T\times 15}{100} $
    $ \Rightarrow $ $ T=\frac{3P\times 100}{P\times 15} $
    $ \Rightarrow $ $ T=20,yr $
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