Multiple choice

On simple interest a sum of money becomes 3 times in 5 years. In how many years, will it become 5 times?

  1. 8

  2. 7

  3. 20

  4. 10

  5. 1.6
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Simple interest formula: A = P(1 + RT/100). 3P = P(1 + R*5/100) => 2 = 5R/100 => R = 40%. To become 5 times, 5P = P(1 + 40*T/100) => 4 = 0.4T => T = 10.

AI explanation

If a sum becomes three times itself in 5 years at simple interest, the interest earned equals two times the principal. Using the formula Time equals n minus 1 times the original years divided by the original multiplier minus 1, we get 5 minus 1 times 5 divided by 3 minus 1, which equals 10 years.

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