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a financier lent out a certain sum of money to a person under simple interest at the rate of 4k % p.a, where 'k' is the number of years, i.e. in the first year, the rate is 4%, in the second year, it is 8% and in the third year, it is 12%, and so on. in how many years will his money get doubled?

Math Secondary School in Math 1 year ago

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LET’s first calculate the interest on ₹900 at 4% for 5 years,here principal(p) = ₹900, roi(r) = 4% and period (n) = 5calculating the Simple Interest…SI = p*r*n/100SI = 900*4*5/100SI = ₹180since the interest is same for both, we will TAKE ₹180 as interest and calculate the sum/principal invested at the rate of 5% for the period of 3 years.now, let the principal be ‘x’….SI = ₹180, roi(r) = 5% and period(n) = 3 yearscalculating the principal by the same Simple Interest FORMULA we used earlier..SI = p*n*r/100180 = x*5*3/100x = 180*100/5*3x = 18000/15x = ₹1200so ₹1200 invested at rate of 5% for the period of 3 years will generate ₹180 as interest as before.
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Posted on 13 Jul 2024, this text provides information on Math related to Secondary School in Math. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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