Multiple choice

A sum of money invested on simple interest will triple itself after 8 years. If Rs.2,200 is invested at the same rate of interest, then the amount at the end of the 14 years will be

  1. 8250

  2. 7150

  3. 8800

  4. 9900

  5. None
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Simple interest: Amount = P + SI. If it triples in 8 years, SI = 2P. 2P = P * r * 8 / 100 => r = 25%. For 14 years, SI = P * 0.25 * 14 = 3.5P. Amount = P + 3.5P = 4.5P. 4.5 * 2200 = 9900.

AI explanation

Since a sum triples itself in 8 years at simple interest, the interest earned equals twice the principal, meaning 16 years of interest equals twice the principal. Therefore, the interest for 14 years is 14 divided by 16 multiplied by twice the principal, which equals 1.75 times the principal. The total amount after 14 years on Rs.2,200 is the principal plus 1.75 times the principal, giving 2.75 times 2200, which equals 9900.

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