| A certain scheme of investment in simple interest declares that it trebles the investment in 8 yr. If you want to quadruple your money through that scheme, you have to invest it for |
A) 11 yr
B) 14 yr
C) 10 yr
D) 12 yr
Correct Answer: D
Solution :
| Principal = Rs. x, Amount = Rs. 3x |
| Case I SI = Amount \[-\]Principal = Rs. 2x |
| \[\therefore \] \[\text{Rate=}\frac{\text{SI }\!\!\times\!\!\text{ 100}}{\text{Principal }\!\!\times\!\!\text{ Time}}\] |
| \[=\frac{2x\times 100}{x\times 8}=25\]% |
| Case II \[\text{Time=}\frac{\text{SI }\!\!\times\!\!\text{ 100}}{\text{Principal }\!\!\times\!\!\text{ Rate}}=\frac{3x\times 100}{x\times 25}=12\,\,yr\] |
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