Question : A certain sum doubles in 7 years at Simple Interest. The same sum under the same interest will become 4 times in how many years?
Option 1: 14 years
Option 2: 28 years
Option 3: 21 years
Option 4: 10 years
Correct Answer: 21 years
Solution : Let the sum be $P$. Total amount for 7 years = $2P$ Simple Interest for 7 years = $2P – P$ = $P$ If total amount = $4P$, Simple Interest = $4P-P$ = $3P$ Since in 7 years interest is $P$ then $3P$ interest is received in 21 years. Hence, the correct answer is 21 years.
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Question : If a certain sum becomes two times in seven years at Compound Interest, then in how many years will it become eight times?
Option 2: 21 years
Option 3: 28 years
Option 4: 35 years
Question : A certain sum becomes 7 times in 8 years at Simple Interest, then in how many years will it become 19 times of itself?
Option 1: 15
Option 2: 18
Option 3: 28
Option 4: 24
Question : A sum of money placed at compound interest doubles itself in 5 years. In how many years would it amount to eight times itself at the same rate of interest?
Option 1: 10 years
Option 2: 15 years
Option 3: 7 years
Option 4: 20 years
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
Question : A sum amount doubles in 8 years by simple interest. Then the rate of simple interest per annum is:
Option 1: 10%
Option 2: 12.5%
Option 3: 15%
Option 4: 20%
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