Multiple choice

A sum of money triples in 5 years at simple rate of interest. In how many years will it become five times?

  1. 25 years

  2. 15 years

  3. 10 years

  4. 5 years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest: A = P + SI. Triples in 5 years means SI = 2P in 5 years. So, SI = P per 2.5 years. To become 5 times, SI = 4P. Time = 4P / (P / 2.5 years) = 10 years.

AI explanation

If a sum triples in 5 years, the interest earned is twice the principal, meaning the interest for 1 year is 2P divided by 5, or 0.4P. To become five times the original principal, the total interest needed is 4P, so the required time is 4P divided by 0.4P, which equals 10 years.

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