Question : A certain sum becomes 5 times in 3 years, at Simple Interest, then in how many years it will become 13 times?
Option 1: 6
Option 2: 15
Option 3: 9
Option 4: 12
Answer (1)
24th Jan, 2024
Correct Answer: 9
Solution :
Let the sum be P.
Total amount for 3 years = 5P
Simple Interest for 3 years = 5P – P = 4P
If total amount = 13P,
Simple Interest = 12P
Using the unitary method,
Since, in 3 years interest is 4P
Therefore, 12P interest will be received in 9 years.
Hence, the correct answer is 9.
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