Girish invested some money in a bank. After 8 | vedclass

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(B) Let the principal amount be $P = 100$. After $8$ years,the amount becomes triple,so the amount $A = 300$. Simple Interest $(SI)$ = $A - P = 300 -

Vedclass · Accepted Answer

$6$

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(B) Let the principal amount be $P = 100$. After $8$ years,the amount becomes triple,so the amount $A = 300$. Simple Interest $(SI)$ = $A - P = 300 - 100 = 200$. Using the formula $SI = \frac{P 	imes R 	imes T}{100}$,we have $200 = \frac{100 	imes R 	imes 8}{100}$. $R = \frac{200}{8} = 25\%$. Now,for $T = 20$ years,the new Simple Interest is $SI = \frac{100 	imes 25 	imes 20}{100} = 500$. The total amount after $20$ years will be $A = P + SI = 100 + 500 = 600$. Therefore,the money becomes $\frac{600}{100} = 6$ times the original sum.

Girish invested some money in a bank. After $8$ years,his amount became triple. How many times of the original sum will the money become in $20$ years at simple interest?

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