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A certain sum becomes 7 times in 8 years...

A certain sum becomes 7 times in 8 years, at simple interest, then in how many years it will become 19 times?

A

15

B

18

C

28

D

24

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to determine how many years it will take for a certain sum of money to become 19 times its original amount at simple interest, given that it becomes 7 times in 8 years. ### Step-by-Step Solution: 1. **Understand the Problem**: We know that a certain sum becomes 7 times in 8 years. This means if the principal amount (P) is 100, the amount (A) after 8 years is 700. 2. **Calculate Simple Interest**: - The simple interest (SI) earned in 8 years can be calculated as: \[ SI = A - P = 700 - 100 = 600 \] 3. **Determine the Rate of Interest**: - The formula for simple interest is: \[ SI = \frac{P \times R \times T}{100} \] - Here, P = 100, SI = 600, and T = 8 years. We need to find the rate (R): \[ 600 = \frac{100 \times R \times 8}{100} \] \[ 600 = 8R \implies R = \frac{600}{8} = 75\% \] 4. **Calculate the Simple Interest for 19 Times**: - If we want to find out how long it will take for the principal to become 19 times, we first find the total amount: \[ A = 19P = 19 \times 100 = 1900 \] - The simple interest required to reach this amount is: \[ SI = A - P = 1900 - 100 = 1800 \] 5. **Use the Rate to Find Time**: - We will use the same formula for simple interest to find the time (T) it takes to earn 1800 with the same rate of interest: \[ 1800 = \frac{100 \times 75 \times T}{100} \] \[ 1800 = 75T \implies T = \frac{1800}{75} = 24 \text{ years} \] ### Conclusion: It will take **24 years** for the sum to become 19 times its original amount.
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