Multiple choice

The time in years required for a sum of money to become 31 times of itself at 15% simple interest per annum ?

  1. 100 yrs

  2. 150 yrs

  3. 200 yrs

  4. 250 yrs

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For a sum to become 31 times, the interest earned is 30 times the principal. Using SI = P * R * T / 100, we have 30P = P * 15 * T / 100. Solving for T: 30 = 15T / 100, so T = 3000 / 15 = 200.

AI explanation

Using the simple interest formula where interest equals principal times rate times time divided by 100, the interest is 30 times P and the equation is 30P equals P times 15 times time divided by 100. Solving for time gives time equals 3000 divided by 15, which equals 200. The required time is 200 years.

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