Question

In what time a certain sum of money will be 2.5 times at 10% rate of interest

Answer 1

Explanation:

It takes 15 years to get 2.5 times the sum at 10% p.a.

Let the principal be 'P'.

Let the amount be '2.5P'

Rate = 10%

Amount = Principal - Interest

2.5 P = P - Interest

Interest = 1.5 P

So, we get that

`1.5P =(P*R*T)/(100) \\1.5 * 100 = 10 * T\\T = 15 years`

hope it helps :)