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A certain amount of sum is invested at s...

A certain amount of sum is invested at simple interest. If the sum becomes k times itself in 16 years and 2k times itself in 40 years, in how many year will it become 4k times of itself?

A

96 years

B

88 years

C

80 years

D

64 years

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to analyze the information given about the investment and the simple interest. ### Step-by-Step Solution: 1. **Understanding the Problem**: - We have a principal amount \( P \). - After 16 years, the amount becomes \( kP \). - After 40 years, the amount becomes \( 2kP \). 2. **Finding the Simple Interest Rate**: - The formula for the amount \( A \) in simple interest is given by: \[ A = P + SI \] - Where \( SI \) (Simple Interest) can be calculated as: \[ SI = P \cdot r \cdot t \] - Here, \( r \) is the rate of interest (in decimal) and \( t \) is the time in years. 3. **Setting Up the Equations**: - From the first condition (after 16 years): \[ kP = P + P \cdot r \cdot 16 \] Simplifying this gives: \[ kP - P = 16Pr \implies (k - 1)P = 16Pr \implies r = \frac{k - 1}{16} \] - From the second condition (after 40 years): \[ 2kP = P + P \cdot r \cdot 40 \] Simplifying this gives: \[ 2kP - P = 40Pr \implies (2k - 1)P = 40Pr \implies r = \frac{2k - 1}{40} \] 4. **Equating the Rates**: - Since both expressions represent the same rate \( r \), we can set them equal to each other: \[ \frac{k - 1}{16} = \frac{2k - 1}{40} \] 5. **Cross Multiplying**: - Cross multiplying gives: \[ 40(k - 1) = 16(2k - 1) \] Expanding both sides: \[ 40k - 40 = 32k - 16 \] 6. **Solving for \( k \)**: - Rearranging the equation: \[ 40k - 32k = 40 - 16 \implies 8k = 24 \implies k = 3 \] 7. **Finding the Time for \( 4k \)**: - Now we know \( k = 3 \). We need to find the time when the amount becomes \( 4kP = 12P \). - We already know that it takes 16 years to get \( kP \) and 24 years to get another \( kP \) (from \( kP \) to \( 2kP \)). - Therefore, to get from \( 2kP \) to \( 3kP \) will take another 24 years. - Finally, to reach \( 4kP \) from \( 3kP \) will take another 24 years. 8. **Total Time Calculation**: - Total time to reach \( 4kP \): \[ 40 \text{ years (to reach } 2kP) + 24 \text{ years (to reach } 3kP) + 24 \text{ years (to reach } 4kP) = 88 \text{ years} \] ### Final Answer: The total time taken for the sum to become \( 4k \) times itself is **88 years**.
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