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In how many least number of complete years a sum of money become more than four times of itself at the rate of 50% per annum on simple interest?
Answer & Solution
Correct Answer:
Option
C
$$\eqalign{ & {\text{SI}} = \frac{{{\text{PRT}}}}{{100}} \cr & 3x = \frac{{x \times 50 \times {\text{T}}}}{{1.0}} \cr & {\text{T}} = \frac{{3 \times 100}}{{50}} \cr & {\text{T}} = 6 \cr} $$
In T = 6 yrs it will become 4 times
For making it more than 4 time check what the time least time after 6 years in option.
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