Exams › SSC CGL (Prelims) › General
A sum becomes 3 times itself in 8 years under simple interest. In how many years will it become 7 times itself at the same rate?
- 16 years
- 20 years
- 24 years
- 28 years
Correct answer: 24 years
Solution
If a sum becomes 3 times in 8 years, then simple interest in 8 years is 2 times the principal. So the rate of increase is $2/8=1/4$ principal per year. To become 7 times, the interest must be 6 times the principal, which takes $6\div(1/4)=24$ years.
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