SSC CGL 2022 PYQ — Question 53

The correct answer is Option 2 i.e. 52 years.

Given:

Time taken to triple the money = 26 years

Concept Used:

$SI = {P \times R \times T \over 100}$    ...(i)

Explanation:

Let the principle be P and the rate of interest be R% per annum.

The money triples in 26 years, amount = 3P

Therefore, Interest = 3P - P = 2P

Now, using equation (i), we get

2P = $P \times R \times 26 \over 100$

⇒ R = 200/26 = 100/13

Now, for the money to become 5 times, amount = 5P

Ineterest = 5P - P = 4P

So, using equation (i), we get

4P = $P \times {100 \over 13}\times T \over 100$

⇒ 400 = (100/13) T

⇒ T = 52

Hence the time required for the money to be its 5 times is 52 years.