A sum becomes 14 times of it self in 15 years at the rate of simple interest per annum. In how many years will the sum becomes 92 times of it self?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 105 years.
| Understanding/Application |
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A sum becomes 14 times of itself in 15 years. Let the sum be x. x → 14x 14x - x = 13x A sum increased by 1300% in 15 years. Percentage increase in sum is the product of rate and time. Rate% = 1300/15 = (260/3)% |
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ATQ - A sum becomes 92 times of itself. x → 92x 92x - x = 91x A sum increase by 9100% at (260/3)% Time taken = 9100/(260/3) = 105 years |