A sum becomes \(\frac{7}{5}\) times

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A sum becomes \(\frac{7}{5}\) times of itself at simple interest of 8% p.a. in:

Options:

5 years

\(2\frac{1 }{2}\) years

\(3\frac{1 }{2}\) years

4 years

Correct Answer:

5 years

Explanation:

Let principal be P and time be T,

Amount = P(1 + \(\frac{8T}{100}\))

⇒ \(\frac{7}{5}\)P = P(1 + \(\frac{8T}{100}\))

⇒ \(\frac{7}{5}\) = 1 + \(\frac{8T}{100}\)

⇒ T = 5 years