A certain sum of money becomes three times of itself in 5
2
1
years at a certain rate of simple interest. How much time will it take to become six times of itself at the same rate?
- A12 years 3 months
- B15 years 5 months
- C10 years 6 months
- D13 years 9 months
Solution & Step-by-step Explanation
Let the principal sum be P.
In the first case, the amount becomes 3P.
Simple Interest (SI
1
)=3P−P=2P
Time taken (T
1
) =5
2
1
years=
2
11
years
In the second case, the amount becomes 6P.
Simple Interest (SI
2
)=6P−P=5P
Let the time taken be T
2
.
Since the rate of interest is the same, the simple interest is directly proportional to time:
SI
2
SI
1
=
T
2
T
1
5P
2P
=
T
2
2
11
5
2
=
2×T
2
11
4×T
2
=55⟹T
2
=
4
55
years
Converting into years and months:
T
2
=13
4
3
years=13years+(
4
3
×12)months=13years and 9months
In the first case, the amount becomes 3P.
Simple Interest (SI
1
)=3P−P=2P
Time taken (T
1
) =5
2
1
years=
2
11
years
In the second case, the amount becomes 6P.
Simple Interest (SI
2
)=6P−P=5P
Let the time taken be T
2
.
Since the rate of interest is the same, the simple interest is directly proportional to time:
SI
2
SI
1
=
T
2
T
1
5P
2P
=
T
2
2
11
5
2
=
2×T
2
11
4×T
2
=55⟹T
2
=
4
55
years
Converting into years and months:
T
2
=13
4
3
years=13years+(
4
3
×12)months=13years and 9months