Problem: At 1212
% simple rate of interest, in how many years the principal amount will be four times with interest?
% simple rate of interest, in how many years the principal amount will be four times with interest?
View all: AB BANK LTD. | PROBETIONARY OFFICER | WRITTEN QUETION SOLVE (MATH) | 2000
Correct Answer: 24 year
Explanation:
Let, the principal amount is Tk. 100
Principal amount with interest = 100 x 4
= Tk. 400
Interest = 400 — 100 = Tk. 300
At 12$\frac{1}{2}$ % or $\frac{25}{2}$ % interest Tk. $\frac{25}{2}$ comes for = 1 year
Tk. 300 comes for = $\frac{2×300}{25}$ year
= 24 year.
